Bitunix Analyst: Top Strategist Warns Rate Cuts Won’t Save Economy, Risk-Off Sentiment Rises

BlockBeats News, September 9th, David Kelly, Chief Global Strategist at JPMorgan Asset Management, warned that Fed rate cuts could backfire and fail to improve the economic outlook. He argued that easing would reduce retirement income, curb corporate borrowing, and amplify an「uncertainty tax,」potentially deepening economic strain. This view sharply contrasts with market expectations that rate cuts will stimulate growth.

In macro markets, the CME FedWatch Tool shows a 100% probability of a 25 bps rate cut in September. Yet experts caution that policy easing may not offset weak labor data and slowing business investment. Treasury yields slipped slightly, the dollar traded sideways, and gold rose on safe-haven demand. Markets remain caught between「policy optimism」and「economic deterioration.」

In crypto, BTC liquidity heatmaps show strong support at $108,500–$109,000 and resistance around $113,800–$114,200. ETH continues to trade above its $4,250–$4,300 support zone, with resistance at $4,480–$4,500.

Bitunix Analyst』s View:

Short-term sentiment still favors trading on rate-cut optimism, but if easing fails to deliver real economic improvement, risk assets may face corrections. Investors should watch U.S. jobs and inflation data closely. In crypto, key levels are BTC support at $108.8K and resistance at $114.2K, and ETH support at $4,250 with resistance at $4,500.