The Jackson Hole Global Central Bank Annual Meeting will be held at 22:00 last night. Fed Chairman Powell gave a speech, releasing a signal of interest rate cuts. This is the first dovish speech made this year. Market confidence has increased greatly, and Bitcoin has soared. It once exceeded $64,000, and is expected to break through the historical high of 73,777 in September!

Summarize the content of speeches over the years:

At the 2019 annual meeting, Powell said that the economy is facing challenges and will take action to maintain expansion. In September and October of the same year, interest rates were cut by 25 basis points.

At the 2020 annual meeting, Powell announced the adoption of an average inflation target, ending preventive interest rate hikes, which indicates a long-term low interest rate environment.

At the 2021 annual meeting, Powell said in an online meeting that QE may be reduced within the year, and did not hint at the time of interest rate hikes.

At the 2022 annual meeting, Powell said that monetary policy needs to be tightened until inflation is under control.

At the 2023 annual meeting, Powell said that the 2% inflation target will be maintained and interest rates will be further raised if necessary, which triggered a new round of tsunamis in the web3 market at that time.