Morgan Stanley: A further rebound in U.S. bonds requires a significant increase in interest rate cut expectations

Powell: I don't think anyone currently expects a rate hike as the baseline; the debate is whether to keep rates unchanged or to cut them.

Powell says rate hikes are not anyone's baseline expectation, suggesting interest rates may remain unchanged in the short term.

BitMine receives another 33,504 ETH from FalconX

The Federal Reserve cuts interest rates by 25 basis points as expected; the dot plot shows only one rate cut next year, with future decisions likely to depend on labor market data.