"Policy needs more time, the next move will likely be a rate cut and the committee will be in wait-and-see mode until the Fed gets more clarity on inflation.

Bank of America economists expect quantitative tightening to slow down with the US Treasury's monthly redemption limit being reduced from $60 billion to $30 billion. Here are economists' comments about Powell:

"We think Powell is pleased that this year's rate cuts have been priced in significantly. "The FED will reduce interest rates this year and will probably have difficulty controlling the market."

If FED officials and chairman Jerome Powell do not make a harsh speech tomorrow night, the crypto market may recover to some extent.