JUST

Bank

2024

Jerome Powell

While Bitcoin (BTC) and cryptocurrency markets were waiting for the FED to start reducing interest rates to support the stagnant bull market, FED chairman Jerome Powell made important statements. 
Speaking at the 2024 Central Bank ECB Forum held in Sintra, Portugal, hosted by the ECB and the Central Bank of Portugal, FED President Jerome Powell made the following statements: 
<blockquote> 
 “We've made a lot of progress on inflation. 
 We want to be more confident that inflation is moving towards 2%. 
 The downward trend in inflation is showing signs of resuming. 
 We continue to have solid growth and a strong labor market. 
 We need to be safer before reducing policy rates. We should see more data like we have seen recently. 
 If the labor market weakens unexpectedly, this will push us to react. 
 We are aware of the risk of reducing interest rates too early or too late. 
 The labor market is cooling. 
 Inflation could return to 2% late next year or the year after. 
 The policy is still restrictive and appropriate. 
 “But more evidence that inflation is falling is needed before interest rate cuts.” 
</blockquote> 
Bitcoin, which was at $62,700 before Powell's speech, rose above $63,000 during the speech. However, it fell back to $ 62,900. 
<img decoding="async" class="alignnone wp-image-147012" src="https://www.bitcoinsistemi.com/wp-content/uploads/2024/07/BTCUSDT_2024-07-02_16-45-23.png" alt="" width="591" height="571"> 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/just-in-fed-president-jerome-powell-speaks-here-are-the-highlights-and-bitcoins-reaction/">JUST IN: FED President Jerome Powell Speaks! Here are the Highlights and Bitcoin's Reaction!</a>

JUST IN: FED President Jerome Powell Speaks! Here are the Highlights and Bitcoin's Reaction!

Bitcoin Sistemi EN

Andre artikler udgivet 2. jul. 2024

VeChain Hackathon Winners Revealed: Meet the Creators of VeFe, the Eco-Friendly Dapp

Over 50% of US hedge funds have exposure to Bitcoin as BTC crushes stocks in 2024

Bitcoin Tembus US$63.000, Analis Memperingatkan Overvaluasi

Coinbase Teams Up with US DOJ for $32M Crypto Custody and Trading Deal

New Investor Protection Regulations in South Korea: What It Means for Crypto Investors

Defi Protocol Pendle’s TVL Drops Sharply Over 40%

Join our free newsletter for daily crypto updates!