Powell Holds Firm: No July Fed Rate Cut in Sight—Markets on Edge

The Fed's poker face remains unreadable as Jerome Powell doubles down on hawkish policy. Traders clutching their rate-cut bingo cards might want to rip them up—this isn’t the dovish summer party they hoped for.

Wall Street’s rate-cut fantasy meets Main Street reality

Another month, another ‘higher for longer’ mantra from the Eccles Building. The Fed’s inflation fight isn’t over—and Powell just reloaded the ammunition. Market bulls? They’re nursing hangovers from last quarter’s liquidity punch bowl.

Quantitative tightening continues its silent massacre of overleveraged portfolios. Meanwhile, crypto traders shrug—decentralized finance never needed the Fed’s permission anyway. (Take that, traditional finance.)

One cynical truth: The only thing dropping faster than rate-cut hopes are the ROI projections of those who bet against Powell’s resolve.