In the current situation where Pennsylvania has already passed the (Bitcoin Rights Act) and other states are sure to follow, making inappropriate remarks and disrupting the financial market, how much longer can such a Federal Reserve Chairman stay in office? Review of Pennsylvania's Bitcoin Rights Act passing.
As the new President Trump is about to take office and gradually fulfill his campaign promises, Powell openly sings a different tune. Is it defiance before stepping down or has he opened a short position? For example, shorting BTC!
"My commitment to everyone is: I will be the most supportive president of innovation and Bitcoin in America." Former President Trump stated at the Bitcoin 2024 conference early on July 28 that if he can return to the White House, he will classify Bitcoin as a strategic reserve asset for the United States.
Trump promised in his speech that if elected president, he would take a series of measures to support the Bitcoin and cryptocurrency industry, including establishing a Bitcoin Presidential Council, preserving Bitcoin jobs, and encouraging power plants to enhance electricity supply for Bitcoin mining.
At the Bitcoin 2024 conference, Trump publicly stated that if he could return to the White House, he would ensure the government retains 100% of the Bitcoin it owns and would classify Bitcoin as a strategic reserve asset for the United States. Data shows that the U.S. government currently owns over 210,000 Bitcoins, valued at approximately $14 billion.
Trump believes that Bitcoin's market value will surpass gold in the future. "I will formulate my plan to ensure that America becomes the cryptocurrency capital of the world and a Bitcoin superpower."
The interest rate cut early this morning is the last rate decision of 2024 (and also the last Federal Reserve meeting during President Biden's term)!
"The Federal Reserve Act specifies what we can own, which is something Congress should consider, but we do not want the Federal Reserve to change the law."
This statement is the core of Powell's hawkish remarks last night; he simply articulated the existing U.S. laws, which the market over-interpreted!
This does not conflict with Trump and the already poised policies of various states, so the significant drop in the short term, especially in altcoins, can only be said as breaking down to build up. Today's drop makes me even more certain that there will be a second charge!
"I believe that regarding 2025, the slowing pace of interest rate cuts next year actually reflects the rising inflation data we have seen this year, as well as expectations that inflation will rise in 2025." "You can see from the Summary of Economic Projections (SEP) that we believe the risks and uncertainties surrounding inflation are increasing. Nevertheless, we still expect to continue cutting rates."
The response to whether there will be rate cuts next year remains the same old story, a very official two-faced answer!
As for how much longer Powell can stay in office, that is not for us to manage or speculate; Trump only has the nomination power, not the appointment power! So it's normal for Powell to speak confidently!
The space created by this wave of declines leaves ample room for Christmas, New Year's, and Spring Festival; the market bulls have also been cleared out. In short, I still remain very optimistic about the demand for a second charge in the future market!
The above is an exclusive analysis of how to lead the trend and become extremely wealthy. If you like it, giving me a thumbs up, commenting, or sharing is the greatest support for me!
