Powell's One-liner Rocks the Market, stating December Rate Cut is not a Done Deal

BlockBeats News, October 30th, Federal Reserve Chairman Powell stated in a press conference that the rate cuts in September and today were insurance cuts, but future cuts will not be the same. In his opening remarks, he uttered the most important sentence: "In the Committee's discussion at this meeting, there are very different views on how to proceed in December. It is not at all predetermined that we will decide to further lower rates in December." Subsequently, the market's pricing probability of a December rate cut by the Federal Reserve rapidly decreased from 92% to 70%, risk assets fell across the board, and the US Treasury yield and the US Dollar Index (DXY) rose. (FX678)