Adding BNB to Core Strategy (Core Strategy Rebalance)
Sep 19, 2024
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Our Verdict: Powell Nailed It
Yesterday, Powell did exactly what risk assets wanted him to do—their actions were dovish, with a 50-bps cut and guidance for two more by year-end, but their economic commentary remained reassuring. Many bears point to this as hawkish, and since it's hawkish, it's implicitly bad for risk assets (including crypto).
In our view, if Powell had taken a significantly more dovish stance than he did, markets might have priced in a higher probability of a hard land...Finish reading this report for free
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