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The Beige Book released ahead of the September FOMC described activity as increasing only modestly since early July, with five of twelve districts reporting no change in employment, four slight gains and three modest gains, while price pressures were mostly modest to slight and just one district cited robust increases. That mix of stalling hiring and contained inflation reinforces the market's case for a September cut, which pressures front-end UST yields and the DXY and supports high-beta risk assets including BTC and ETH. The offset is that contacts flagged heightened uncertainty from higher energy prices, policy and international conflict, so a hot CPI print or firmer oil before the meeting would repriced the easing path and cap the risk rally.
As a Macro signal, watch whether it changes price action, volatility, or flows around BTC, IXIC.
Original Source: InvestingLive Central Banks
This page is market information analysis, not investment advice.
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