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A couple days after Fed Chair Jerome Powell’s widely watched Jackson Hole speech feels like a great time for a high-level update — particularly as macro’s effect on crypto markets has increased over time.

We still don’t know what the Fed will do at its Sept. 17 meeting. But to many, Powell’s comments had a dovish tilt, leaving the door open for an interest rate cut next month. 

If we look at CME Group’s FedWatch tool — based on 30-Day fed funds futures prices, as of midday Monday — many think a 25-basis point cut is in the cards. The bottom section shows that…

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