The post Bitcoin Climbs as December Rate Cut Odds Waver appeared on BitcoinEthereumNews.com. Bitcoin saw a slight relief rebound as Fed Chair Jerome Powell did not address the economy or monetary policy in prepared remarks at Stanford University. However, Fed rate cut odds waver amid economic data releases ahead of next week’s FOMC interest rate decision. Fed Chair Jerome Powell Skips Comments on Economy, Monetary Policy In his opening remarks at the Stanford University event honoring late economist and statesman George Shultz, Jerome Powell refused to comment on current economic conditions or monetary policy. “Just to be clear, I will not address current economic conditions or monetary policy,” he said. This was expected as the Fed Chair hasn’t made any remarks on monetary policy since stating in his October press conference that a December rate cut is uncertain. As CoinGape reported, the blackout period preceding FOMC meeting next week prevented Jerome Powell from making any comments on monetary policy in his speech. Also, the Jerome Powell speech coincided with the end of quantitative tightening (QT). Any comment could have affected liquidity flows into the financial system with the Fed’s planned quantitative easing (QE). Fed Rate Cut Certain amid Slowing Orders and Higher Prices? Moreover, the ISM Manufacturing PMI data on Monday showed that the manufacturing sector contracted for the ninth consecutive month. November’s ISM Manufacturing PMI in the US comes in at 48.2, falling to the lowest in four months and below forecasts of 48.6. The data reveals slumping orders and higher prices due to the impact of tariffs. As a result, the markets are largely expecting a Fed rate cut on December 10. The CME FedWatch Tool shows odds of a 25 bps rate cut wavering near 87%. “I see no reason why the uptrend doesn’t continue, at least, not as quickly, but maybe more of a grind up to the end… The post Bitcoin Climbs as December Rate Cut Odds Waver appeared on BitcoinEthereumNews.com. Bitcoin saw a slight relief rebound as Fed Chair Jerome Powell did not address the economy or monetary policy in prepared remarks at Stanford University. However, Fed rate cut odds waver amid economic data releases ahead of next week’s FOMC interest rate decision. Fed Chair Jerome Powell Skips Comments on Economy, Monetary Policy In his opening remarks at the Stanford University event honoring late economist and statesman George Shultz, Jerome Powell refused to comment on current economic conditions or monetary policy. “Just to be clear, I will not address current economic conditions or monetary policy,” he said. This was expected as the Fed Chair hasn’t made any remarks on monetary policy since stating in his October press conference that a December rate cut is uncertain. As CoinGape reported, the blackout period preceding FOMC meeting next week prevented Jerome Powell from making any comments on monetary policy in his speech. Also, the Jerome Powell speech coincided with the end of quantitative tightening (QT). Any comment could have affected liquidity flows into the financial system with the Fed’s planned quantitative easing (QE). Fed Rate Cut Certain amid Slowing Orders and Higher Prices? Moreover, the ISM Manufacturing PMI data on Monday showed that the manufacturing sector contracted for the ninth consecutive month. November’s ISM Manufacturing PMI in the US comes in at 48.2, falling to the lowest in four months and below forecasts of 48.6. The data reveals slumping orders and higher prices due to the impact of tariffs. As a result, the markets are largely expecting a Fed rate cut on December 10. The CME FedWatch Tool shows odds of a 25 bps rate cut wavering near 87%. “I see no reason why the uptrend doesn’t continue, at least, not as quickly, but maybe more of a grind up to the end…