Bitcoin Awaits Powell! What Time Will He Speak? What will she say?

We have followed that the markets are going through a painful process this week. The biggest reason for this is the events that started yesterday and will continue today and tomorrow. Jackson Hole meeting.

What is the Jackson Hole Symposium?

The meeting, which is held every year in Jackson Hole, Wyoming, USA, is followed closely by the banking industry. The meeting is attended by the representatives of the central banks of developed and developing countries around the world.

What Time Will Powell Speak?

Today’s part of the meeting is of particular importance. Because the head of the Fed Jerome Powellof today 17.00 CETHe is expected to appear before the cameras and talk about monetary policy.

What Will Powell Say?

Experts don’t think Powell will deliver a new message. It is expected that the message that interest rate hikes will continue to reduce inflation will be repeated.

It is evaluated that Powell may give a signal contrary to the market expectation that interest rate cuts will start in 2023 after interest rates reach the desired level.

At this point, Powell may send the message that rates should be kept at a certain level for a while, instead of going for an immediate interest rate cut. Because there were opinions in this direction in the latest FED minutes.

Although the biggest question in the minds is whether to increase interest rates by 50 basis points or 75 basis points in September, Powell is not expected to give a clue on this issue.

According to the harshness of Powell’s messages, the volatility in the markets will increase. For this reason, experts remind that high leverage transactions should be avoided.

All Eyes on PCE

Before Powell’s statements, important data will also be announced in the USA.

US Core Personal Consumption Expenditures (PCE) will be announced at 15.30 CEST. The expectation is 0.3%.

What is PCE?

The PCE index determines the rate of inflation experienced by consumers when goods and services other than food and energy are purchased. Currency traders like the Central Bank’s preferred consumer inflation indicator. Core PCE It also tracks the price index.