Fed Chairman Powell began making his anticipated presentation at the US Senate Banking Committee. This speech has been awaited for a long time. Because the statements affect the Bitcoin, cryptocurrencies and gold market. The FED President has just started making a statement and the markets are moving. cryptocoin.com We have compiled all the details for you, let’s examine the explanations together… The article will be constantly updated with new statements from the FED Chairman. Update the page constantly so you don’t miss the explanations! Here are key notes from Powell’s speech:
- The peak level in interest may be higher than expected.
- We are ready to increase the pace of rate hikes if necessary.
- The final level of interest rates will likely be higher than previously anticipated.
- So far there is little evidence of deflation in basic services, excluding housing.
- Lower inflation in basic services excluding housing and a possible softening in the labor market are required for inflation to return to 2%.
- The labor market remains extremely tight.
- Inflation has softened, but its path may be volatile.
- The Fed will make policy decisions for each meeting.
Bitcoin price fell below $22,000 with Powell’s statements. Gold price slipped below $1,823.
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