All Eyes on Bitcoin Turned to FED Chairman Powell’s Statements! What time will he speak? Here are the Details…

Bitcoin While it exceeded $38,000 with the rise it experienced yesterday, BTC and global markets focused on FED President Jerome Powell’s speech.

He will speak at Spelman College in Atlanta. Fed Chairman Jerome Powell‘s statements will be followed closely.

Powell’s speech will begin at 19:00 Turkish time. (UTC+3)

At this point, while economic data, especially inflation, in the USA indicate that the FED has come to an end in the interest rate increase process and that it is likely to start reducing interest rates in the near future, Powell’s statements are of great importance.

As it is known, the FED interest rate decision and FED Chairman Powell’s speech Bitcoin And cryptocurrencyIt has a great impact on people. Because there may be sharp and sudden movements in BTC and cryptocurrencies during Powell’s speech.

Powell is expected to announce his predictions about the interest rate policy that the FED will follow in the coming period and to give a clue as to whether the interest rate will be increased in December.

At this point, the FED president also made a statement. Fed He is expected to have a dovish attitude like member Christopher Waller.

But Michael Larkin of Investor’s Business Daily said one should be prepared for any explanation.

Larkin “With inflation continuing to cool, Treasury yields falling, and the Fed’s recent dovish talk, investors will likely hear Fed Chairman Powell signal a turnaround, but they may also hear Powell use a more hawkish tone.” said.

Apart from Larkin, Financial Market Analyst Art Hogan stated that there are too many indicators showing that interest rates should not rise to higher levels and should now fall:

“I am thinking of increasing interest rates at the FED’s meeting on December 13. I list the driving forces of this view as ‘the decline in inflation, the softening of economic data and the dovish recent statements of FED members’.

FED’s interest rate expectation for the December 13 meeting shows that the probability of another interest rate increase is less than 5 percent. At this point I think we are definitely done with rate hikes for this cycle.

In addition, Powell may make hawkish statements instead of dovish ones.

Judging by Powell’s comment that ‘we are not even considering a rate cut right now’, the FED may step back from its dovish speeches at the beginning of this week. At this point, it is possible that the FED president will make statements that are not more hawkish, but consistently hawkish. “The FED chairman can again reiterate that they are committed to data.”

As you may remember, one of the most hawkish FOMC members Christopher WallerIn his statement at the beginning of the week, he stated that interest rate cuts may be on the agenda if inflation continues to fall and economic data continues to be positive.

The next FOMC meeting will be held on December 12 – 13, and the critical interest rate decision will be announced on December 13 at 21:00 CET.

*This is not investment advice.