Hey, we are supposed to be decentralized, why are we always led by the centralized Federal Reserve! It's so annoying! You are willing to maintain high interest rates, what does it have to do with cryptocurrency!

Fed Chairman Powell reiterated that interest rates may be kept high for a longer time

Fed Chairman Powell said in a speech today that it looks like it will take longer to be confident about inflation, and it may need to stay at the current policy rate for a longer time. The Fed needs to be patient and wait for more evidence that high interest rates are curbing inflation, thus doubling the need to keep interest rates high for a longer period of time. Powell expects inflation to fall month by month, but first quarter price data undercut his confidence. The lack of further progress on inflation in the United States in the first quarter is noteworthy. The Fed does not think that it is a smooth road to fight inflation, but recent data is higher than anyone expected. This tells people that they need to be patient and let restrictive policies work. (Jinshi)