As the U.S. economic data freezes because of the U.S. government shutdown, crypto traders are bracing for Federal Reserve Chair Jerome Powell’s comment scheduled on Sept. 9, 8:30 AM ET, before markets open.

For both crypto and traditional markets, his remarks will serve as the only official signal on the outlook for monetary policy.

Related: What is Crypto? Cryptocurrency explained

On Sept. 17, a 25-basis-point rate cut was followed by a sharp sell-off after Powell’s post-decision remarks fueled concern about the pace of easing.

That history is keeping expectations tense heading into tomorrow’s speech. Volatility gauges in both equities and digital assets have been ticking higher.

Pseudonymous crypto trader “TradeWithElites” on X criticized Fed Chair Jerome Powell, saying, “Tell me one time when Powell said something bullish.” The trader added that “even after the 25bps rate cut in September, his speech alone tanked the market again.”

In-house survey of Federal Reserve point toward additional easing this year.

According to the minutes of the Sept. 16 to Sept. 17 FOMC meeting:

“The vast majority of survey respondents expected at least two 25 basis point cuts by year-end, with around half expecting three cuts over that time.”

Notably, the shutdown has halted key data releases including labor reports, jobless claims, and inflation updates. That absence leaves Powell’s speech as the only tradable datapoint this week.

Former hedge fund manager and Bitcoin Opportunity Fund co-founder James Lavish said the Fed minutes show the board is “still concerned about the potential for rising inflation” yet “leaning toward more rate cuts this year anyway.” The Bitcoin advocate hinted the stance reinforces why “sound money like BTC matters more than ever.”

According to Kraken's price feeds, Bitcoin is trading down at 0.9% in 24 hours to $123,255 as broader crypto cap hits $4.32T. Ethereum edges up 0.1% to $4,509 with steady spot demand and staking flows. Dogecoin leads majors with a 2.5% pop to $0.2582.

Fed minutes show most officials back more rate cuts this year, signaling a clear pivot toward easier policy. Governor Stephen Miran wanted a deeper 50 bps cut, arguing inflation is near 2%. The Fed warned job gains have slowed while inflation remains “somewhat elevated.” Looser policy could boost liquidity — a bullish setup for Bitcoin and crypto markets.

Wall Street took the Sept. 16–17 FOMC minutes as a green light for more easing because “most judged that it likely would be appropriate to ease policy further over the remainder of this year,” even as officials stayed split on inflation risks, Yahoo Finance reported.

The document notes live debate inside the Fed, “a few” wanted no cut, while new Governor Stephen Miran argued for 50 bps, which can sway rate-path odds, yields, and risk appetite in real time.

Related: U.S. shutdown could send shockwaves beyond politics

This story was originally reported by TheStreet on Oct 8, 2025, where it first appeared in the Federal Reserve & FOMC News section. Add TheStreet as a Preferred Source by clicking here.