Will Powell’s Rate Cut Signal Next Cardano Rally?

Federal Reserve Chair Jerome Powell’s speech at Jackson Hole on August 22nd provided market clarity on monetary policy, indicating a potential shift towards easing. His dovish tone signaled the possibility of rate cuts as early as September, citing factors like a softer labor market and reduced inflation pressures. This shift in sentiment sent markets up, weakened the US dollar, and reignited momentum across crypto. For Cardano (ADA), which had been consolidating after a strong July rally, Powell’s remarks could have acted as a catalyst for its next move.