Reserve

Biden

<p style="text-align: justify">Powell will start speaking in about an hour, and his statements are crucial after the latest data. Moreover, the increasing tension in the Middle East is adding significance to today’s comments. The <strong><a href="https://en.coin-turk.com/institutional-interest-in-bitcoin-surges-amid-new-etf-applications/" data-wpel-link="internal" rel="noopener noreferrer nofollow">BTC</a> price</strong> was testing $28,800 at the time of writing this article. Meanwhile, altcoins are mostly stagnant, suspiciously unaffected by BTC’s indecisive movement.</p>
<h2 style="text-align: justify" id="federal-reserve-chairman-s-remarks">Federal Reserve Chairman’s Remarks</h2>
<p style="text-align: justify">We will share the details about the upcoming speech in about an hour. Powell, who will speak at the New York Economic Club, has become the center of attention in this abnormal market environment. The fact that US ten-year bond yields are at the highest level since 2007 and thirty-year fixed-rate mortgages reaching 8% emphasizes the possibility that something is coming to an end. Every peak has its turning point.</p>
<p style="text-align: justify">Asset management guru Lawrence “Larry” Lepard said the following today:</p>
<blockquote>
 <p style="text-align: justify">“They cannot allow the bond rout to continue. Powell is on the verge of saying or doing something very dovish that will cause a major rally in the US Treasury market.”</p>
</blockquote>
<h2 style="text-align: justify" id="expectations-for-november-1st-interest-rates">Expectations for November 1st Interest Rates</h2>
<p style="text-align: justify">According to FedWatch data, there is an 88% probability that interest rates will remain unchanged. Economist Mohamed El-Erian, speaking on CNBC’s “Squawk Box,” made confident statements that interest rates will not rise further.</p>
<blockquote>
 <p style="text-align: justify">“The message to be given now is that the Fed’s job is done, our job is done. The message should be this. Whether they will give this message or not, I don’t know.”</p>
</blockquote>
<p style="text-align: justify"><img decoding="async" class="size-full wp-image-268264 aligncenter" src="https://coin-turk.com/wp-content/uploads/2023/10/1-Kasim-Faiz-Beklenti.webp" alt="" width="2000" height="1000"></p>
<p style="text-align: justify"><a href="https://en.coin-turk.com/celsius-network-works-to-make-an-agreement-for-customer-fund-returns/" data-wpel-link="internal" rel="noopener noreferrer nofollow">Crypto</a> Tony said that surpassing $29,000 in the next few hours would be a significant sign of strength. Until a few weeks ago, experts agreed that closing above $28,800 could target $32,000. However, BTC has not yet achieved closures above this level.</p>
<p style="text-align: justify">Investors should closely follow today’s statements as they will serve as a rehearsal for the November 1st speech. If Powell makes dovish statements to balance indicators that have reached their peak, it can have a multiplier effect on the cryptocurrency market.</p>
<p style="text-align: justify">Softening of the Fed while approaching ETF approvals will be a highly positive development for cryptocurrency investors. On the other hand, it should not be forgotten that Biden is trying to obtain approval for $100 billion in aid to Israel. Although the Fed mitigated inflation with front-loaded measures, pushing the limits further could cause serious damage to the US.</p>
<p style="text-align: justify">With interest rates at such high levels, what is the situation with bond discounts? How much of the banks’ balance sheets are sitting on unrealized losses? And more questions should be on Powell’s mind.</p>
<div class="sorumluluk_reddi" style="text-align: justify"><strong>Disclaimer:</strong> The information contained in this article does not constitute investment advice. Investors should be aware of the high volatility and therefore the risks associated with cryptocurrencies and should conduct their own research.
</div> Continue Reading: <a href="https://en.coin-turk.com/federal-reserve-chairmans-remarks-and-expectations-for-november-1st/" data-wpel-link="internal" rel="noopener noreferrer nofollow">https://en.coin-turk.com/federal-reserve-chairmans-remarks-and-expectations-for-november-1st/</a>

Federal Reserve Chairman’s Remarks and Expectations for November 1st

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