FED Chair Jerome Powell Addresses Media Following FEDs Interest Rate Announcement Stay Updated with LIVE Updates

Crypto News
Economy
BREAKING: FED Chair Jerome Powell Addresses Public Following FED’s Interest Rate Decision
In a significant turn of events, FED Chair Jerome Powell has taken the stage to deliver an important speech following the FED’s decision to maintain interest rates.
After the FED’s announcement of keeping interest rates unchanged, Jerome Powell initiated a crucial press conference at 21:30 Turkey time (UTC+3).
Key points from Powell’s speech include:
– Despite a notable decrease, inflation still persists at high levels.
– The FED anticipates a slowdown in GDP growth compared to the previous year.
– The policy stance remains restrictive.
– Employment growth remains strong, albeit slower compared to the first quarter.
– Unemployment rates continue to remain low.
– Inflation has shown a significant decrease.
– A surge in immigration has boosted labor force participation.
– The economy has shown considerable progress.
– Risks towards achieving the dual mission are now more balanced.
– More favorable data is required to bolster confidence in inflation.
– The FED will exercise extreme caution against inflation risks.
– FED forecasts are subject to change and not set in stone.
– Interest rates will be maintained at their current levels as long as necessary, provided the economy and inflation remain stable.
– The FED stands prepared to respond should there be unexpected weakening in employment.
– The labor market indicators suggest a relatively tight but not overheated market.
– Confidence in inflation remains conservative, with hopes for better figures.
– The FED remains vigilant and poised to adjust policies as needed.
– Interest rate reductions have been postponed due to sluggish progress in inflation.
– Overall, the FED maintains a restrictive policy stance, with the intention of eventual economic weakening.
– The banking system remains robust and well-capitalized.
– Inflationary pressures have eased, although non-housing services still exhibit high inflation.
– Import prices of goods have seen an unexpected increase.
– Wages, while above sustainable levels, are not the primary driver of inflation.
– The FED’s stance on interest rates foresees minimal reductions by the end of 2024.
– Interest rate futures markets had predicted up to two cuts this year, but the FED’s decision differs.
– Stay tuned for more updates on the latest developments in the cryptocurrency market post-FED’s interest rate decision.
*Please note that this is not investment advice.
For access to over 300 cryptocurrencies, sign up with Binance exchange using this link for a 20% COMMISSION DISCOUNT!
Follow our Telegram and Twitter accounts for exclusive news, analysis, and on-chain data updates.