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Fed rate cut bets soar as economy slows, Bitcoin rallies above $71k on ETF inflows
Asset prices climbed higher in trading on Wednesday amid rising optimism regarding the possibility of an interest rate cut coming in September amid signs of slowing labor demand and a cooling economy. “Weak private labor market data has fostered investor optimism regarding potential Federal Reserve intervention to lower interest rates later in the year,” said analysts at Secure Digital Markets. “Private payroll data from ADP revealed a slowdown in hiring to 152,000 last month, below the anticipated 173,000.” “This data signals ongoing weakness in the labor market, potentially providing the Federal Reserve ... (full story)