Powell spoke, and the heartstrings of cryptocurrency investors were tense.

It's too late, it's really too late. 🔥🔥🔥

After the Fed's interest rate decision in June 2024, Powell said that the inflation data so far this year is not enough to give the Fed confidence in cutting interest rates, and more data is needed to boost confidence.

Powell emphasized that the Fed will continue to make decisions based on upcoming data, the evolution of the economic outlook, and the balance of risks. He acknowledged that monetary policy is restrictive and is having an impact on demand. At the same time, Powell also said that he would pay close attention to whether there are signs of weakness in the labor market and the development of inflation. But given the current situation, it is unlikely that there will be a rate cut today. This statement undoubtedly makes people in the cryptocurrency circle and market investors more cautious about the expectation of rate cuts.

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