Theses of the speech of the head of the US Federal Reserve Jerome Powell, which is taking place at these moments. Today the head of the department speaks at the Economic Club of Washington on economic issues.

Key (spoiler - there are positive hints regarding the timing of the start of the interest rate reduction):

- A very sad day for our country, political violence has no place in the USA. Thankful Trump's injuries were not serious.

- The economy has been developing very well over the past couple of years.

- It was expected that the economy would slow down and the decline in inflation would continue to progress - something similar is happening.

- The Fed's job is to make decisions based on incoming data, not policy. We do not focus on the election cycle.

- Inflation actually showed a serious decline in the 2nd quarter of 2024.

- If the Fed waits until inflation reaches 2% to cut rates, it will wait too long.

- Fed members want to be sure that inflation is moving down.

- We are not going to give any signals about plans for specific meetings.

- More good data will add confidence to US Federal Reserve members in lowering interest rates, and we have been receiving them lately.

- Inflation for the second quarter really shows progress with three indicators better than expected. This strengthens confidence in lower inflation.

- Inflation has decreased, now the Fed can consider the second part of the mandate (on the labor market).

- The US labor market has cooled. If we saw unexpected weakness in the labor market, it would merit our response.

The#BTCrate reacts positively to theses - it updated today's high and came close to liquidity behind the high on July 1.