The U.S. Federal Reserve announced a 25-basis-point rate cut on Wednesday, but crypto prices still slumped.
A lower federal funds rate makes borrowing costs more affordable, stimulating financial activity. Rate cut announcements typically boost the prices of riskier assets.
Neither crypto nor equities followed that script on Wednesday, however. A potential reason? In a speech following the announcement, Fed Chair Jerome Powell struck a more inflation-hawkish tone than expected when discussing the possibility of future cuts.
“In the committee’s discussions at this meeting, there were strongly differing views about how to proceed in December,” Powell explained. “A further reduction in the policy rate at the December meeting is not a foregone conclusion. Far from it. Policy is not on a preset course.”
His comments undercut the expectations of traders: On Tuesday, the CME Group’s FedWatch tool, which tracks 30-Day Fed Funds futures prices, estimated there was a 90.5% chance the Federal Open Market Committee (FOMC) would slash the policy rate by another 25 basis points at its next meeting in December. That probability plunged to around 65% after Powell’s speech.
The overall crypto market cap dipped by 0.8% on Wednesday, with Bitcoin dropping by 1.3%, per data from CoinGecko. The S&P 500 tracked sideways.
In his speech, Powell said downside risks to employment had increased, justifying the FOMC’s step towards a more neutral policy stance this week. The Fed chair also noted that longer-term inflation expectations remain consistent with the Fed’s 2% goal, though he acknowledged that the Trump Administration’s tariffs could impact that trajectory.
“Higher tariffs are pushing up prices in some categories of goods, resulting in higher overall inflation,” Powell said. “A reasonable base case is that the effects on inflation will be relatively short-lived — a one-time shift in the price level. But it is also possible that the inflationary effects could instead be more persistent, and that is a risk to be assessed and managed. Our obligation is to ensure that a one-time increase in the price level does not become an ongoing inflation problem.”
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![The ‘Highlander’ Reboot Promises Plenty of Decapitations
The next Insidious gets a new title. Could a sequel to Wonka be in the works? Plus, The Boys remembers the fallen with a series of new meta promo videos. To me, my spoilers! Highlander Speaking with Comic Book, Djimon Hounsou promised the upcoming Highlander reboot will include “a lot of decapitations.” They’re gonna love this movie. The scale of the action in this one…certainly, being directed by Chad [Stahleski], the guy who directed all the John Wick [movies]. And it’s an amazing cast as well. It’s going to be spectacular. The sets, the way how they’re designed…certainly, my set was just [great]. There will be a lot of decapitations. Insidious: Out of the Further Bloody-Disgusting also reports the new Insidious movie is officially titled Insidious: Out of the Further. Man of Tomorrow According to a recent Instagram story from Nicholas Hoult’s wife, Bryana Holly (via Screen Rant), the actor has shaved his head in preparation to play Lex Luthor again in Man of Tomorrow.
Wonka 2 Meanwhile, insider @DanielRPK (via World of Reel) alleges a sequel to Wonka plans to begin filming this August. Eternally Yours Variety reports CBS has ordered Eternally Yours, a new sitcom about vampires from Joe Port and Joe Wiseman, the creators behind the American version of Ghosts. The series is said to follow Charles (Ed Weeks) and Liz (Allegra Edwards), “a vampire couple whose once-passionate romance has devolved into a pulseless marriage after 500 years together. Living in present-day Seattle with their oddball coven, they’ve settled into an eternal rut—until their daughter’s (Helen J. Shen) earnest human boyfriend (Jaren Lewison) unexpectedly enters their lives and forces them to confront whether their love can survive forever… or if forever is a life sentence.”
Ghosts Speaking of, the spirit of a child actor enters the fray in the trailer for this week’s episode of Ghosts. The Boys Finally, Vought International has released three new videos memorializing A-Train, introducing Ashley Barrett as the company’s latest vice president, and an infomercial for The Deep’s new manscaping kit. Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who. #Highlander #Reboot #Promises #Plenty #DecapitationsHighlander,Insidious 6,Man of Tomorrow,Morning Spoilers,The Boys The ‘Highlander’ Reboot Promises Plenty of Decapitations
The next Insidious gets a new title. Could a sequel to Wonka be in the works? Plus, The Boys remembers the fallen with a series of new meta promo videos. To me, my spoilers! Highlander Speaking with Comic Book, Djimon Hounsou promised the upcoming Highlander reboot will include “a lot of decapitations.” They’re gonna love this movie. The scale of the action in this one…certainly, being directed by Chad [Stahleski], the guy who directed all the John Wick [movies]. And it’s an amazing cast as well. It’s going to be spectacular. The sets, the way how they’re designed…certainly, my set was just [great]. There will be a lot of decapitations. Insidious: Out of the Further Bloody-Disgusting also reports the new Insidious movie is officially titled Insidious: Out of the Further. Man of Tomorrow According to a recent Instagram story from Nicholas Hoult’s wife, Bryana Holly (via Screen Rant), the actor has shaved his head in preparation to play Lex Luthor again in Man of Tomorrow.
Wonka 2 Meanwhile, insider @DanielRPK (via World of Reel) alleges a sequel to Wonka plans to begin filming this August. Eternally Yours Variety reports CBS has ordered Eternally Yours, a new sitcom about vampires from Joe Port and Joe Wiseman, the creators behind the American version of Ghosts. The series is said to follow Charles (Ed Weeks) and Liz (Allegra Edwards), “a vampire couple whose once-passionate romance has devolved into a pulseless marriage after 500 years together. Living in present-day Seattle with their oddball coven, they’ve settled into an eternal rut—until their daughter’s (Helen J. Shen) earnest human boyfriend (Jaren Lewison) unexpectedly enters their lives and forces them to confront whether their love can survive forever… or if forever is a life sentence.”
Ghosts Speaking of, the spirit of a child actor enters the fray in the trailer for this week’s episode of Ghosts. The Boys Finally, Vought International has released three new videos memorializing A-Train, introducing Ashley Barrett as the company’s latest vice president, and an infomercial for The Deep’s new manscaping kit. Want more io9 news? Check out when to expect the latest Marvel, Star Wars, and Star Trek releases, what’s next for the DC Universe on film and TV, and everything you need to know about the future of Doctor Who. #Highlander #Reboot #Promises #Plenty #DecapitationsHighlander,Insidious 6,Man of Tomorrow,Morning Spoilers,The Boys](https://gizmodo.com/app/uploads/2025/09/io9-2025-spoiler.png)
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