Eyes on Powell in Bitcoin (BTC)! What Will the Fed Chairman Say Tomorrow?

in bitcoin with the sharp decline cryptocurrency fans focused on the new week.

Although the economic developments during the week will decrease the risk appetite of investors, investors who love volatility are in a hurry to take positions according to the economic calendar.

You can review the economic developments of this week in the related news.

What Will Powell Say?

One of the most important developments this week is on Tuesday and Wednesday. powell includes speeches.

Fed chairman He will appear before the Senators to make a presentation on the semi-annual monetary policy report to Congress. Powell will address the Senate Banking Committee on Tuesday and the House Financial Services Committee on Wednesday.

Powell’s The statements are expected to be in line with the 6-month monetary policy report. The highlights of the report presented to Congress on Friday are as follows:

“The FED is aware of the difficulty that inflation poses in reaching basic needs and is determined to reach the 2% target.

Price inflation in basic services remains high.

We see that housing services and rents adapt late to market conditions. Therefore, the rate of price increase in this area should be expected to slow down in the next year.

In areas such as travel, food, financial services, we have yet to see any sign of slowdown. This will probably require some easing in the labor market.”

powell He stated that after the last interest rate decision, the signs of regression in inflation are not yet seen strongly and that continuing interest rate hikes until these signs are seen would be appropriate. Powell is expected to repeat these statements on Tuesday and Wednesday.

In his speech on February 7, Powell drew attention to some headlines. This week’s statements are expected to be in line with this.