Bitcoin Eyes Turn to Fed Chair Powell's Speech!
Fed Chair Jerome Powell to comment on the US economy at 20.55 GMT
🗣️Fed Chair Jerome Powell:
•Risks are bilateral and decisions will be made in meetings.
•The US economy is in a solid position; we will use our tools to keep it that way.
•We have made good progress toward restoring price stability without a major increase in unemployment.
•The 50 basis point rate cut reflects growing confidence that appropriate policy readjustment can keep the labor market strong and inflation moving toward target.
🗣️Fed Chair Jerome Powell:
•Recent data suggests further progress toward a sustainable return to 2%.
•My colleagues and I have increased our confidence that inflation is on a sustainable path to 2%.
🗣️Fed Chair Jerome Powell:
•Working conditions are strong and the labor market is nearly balanced.
•Further rate cuts are expected.
