Wall Street and the cryptocurrency market are convinced that Fed Chair Jerome Powell will keep his promise and continue cutting rates. It\u2019s the top story fueling FOMC crypto predictions. Futures markets now give a 95% chance of a quarter-point rate cut at month\u2019s end, up from barely half that a few weeks ago.<\/p>\n
Moreover, the US government shutdown<\/a> has locked the doors at the Bureau of Labor Statistics, killing the September jobs report and key spending data. With no numbers and no clarity, Powell\u2019s team is running policy on instinct.<\/p>\n \u201cA lack of fresh data means the Fed can\u2019t confirm that the labor market remains on solid ground,\u201d said Krishna Guha, head of global policy at Evercore ISI.<\/p>\n There\u2019s a running theory that Powell won\u2019t give deeper rate cuts<\/a> until people get laid off and then they default on their burrito and pizza credit card debt. Let\u2019s talk about that and 3 predictions for the upcoming FOMC:<\/p>\n