Famous author Robert Kiyosaki about Federal Reserve Chairman Jerome Powell’s latest statements about inflation Bitcoin He confirmed his support for . Kiyosaki took Powell’s admission that inflationary pressures were now evident as brave. He also emphasized that this situation is a critical turning point for the economy.
Robert Kiyosaki Continues His Support for Bitcoin
Kiyosaki has long been known as an advocate for alternative assets such as gold, silver and BTC. Kiyosaki wrote the following while evaluating Powell’s latest statements about inflation. “Finally, Fed Chairman Powell admitted the truth. Last week he finally acknowledged that inflation had won. The Fed can no longer promise 2% inflation or claim that inflation is ‘temporary’. “He finally stopped lying.” he stated.
With Powell’s admission, Kiyosaki doubled down on his advocacy for BTC and other valuable assets. He also warned the public against the effects of inflation and urged individuals to take control of their financial future.
Kiyosaki was clear, emphasizing the dire consequences of relying on traditional savings methods. Recalling the warning in his famous book, he stated, “Those who save lose.” He also noted the serious erosion in the purchasing power of the dollar since 1913 by the Federal Reserve and the IRS.
Kiyosaki stated his preference for “Real money.” In this context, he advocated owning assets such as gold, silver and Bitcoin as a safeguard against the depreciation of fiat currencies. Kiyosaki’s advice reflects his long-term belief in the importance of financial education and the empowerment of individuals.
Fed President Ignores Interest Rate Cuts
In his speech at the Stanford Graduate School of Business, Fed Chairman Powell emphasized that more in-depth thought should be taken before adjusting interest rates. There is a widespread expectation among financial analysts that interest rates will be cut. But it’s definitely hard to talk about it right now.
This uncertainty suggests that assets such as Bitcoin and stocks, which are often associated with high risk appetite, may go through a long period of consolidation to sustain upward momentum. Additionally, Powell emphasized the recent strong performance in job creation and inflation figures.
Powell stated that they exceeded expectations. While policymakers generally look favorably on Fed rate cuts in the coming months, Powell’s opinion is different. Therefore, he emphasized that such measures would only come about with increased confidence in a sustained decline in inflation towards the Federal Reserve’s target of 2%.
