Only one rate cut this year? Powell is "hawkish" again, BTC gives up gains

Only one rate cut this year? Powell's speech is "hawkish"

Powell's speech seemed quite restrained, trying to calm the market's premature optimism. The market originally expected the Fed to cut interest rates twice this year, but the latest dot plot shows that the rate cut expectations have been cut from 3 times to 1 time, and may be raised to 4 times next year. This means that the expectation of rate cuts has been shelved.

Today, the Federal Reserve decided to keep interest rates in the range of 5.25% to 5.5%, but lowered the expectation of rate cuts in 2024 to only one time. Policymakers pointed out that "further progress" has been made to achieve the 2% inflation target.

Fed Chairman Jerome Powell spoke at a press conference, emphasizing that although inflation has fallen from its peak, there is no full confidence in rate cuts and no date for rate cuts has been set.

Powell said: "We think today's CPI report has made progress and increased our confidence. But we don't think we have enough confidence yet to start easing policy." He further pointed out that the Fed's restrictive stance on monetary policy is producing the desired effect, but central bank officials are still waiting for more progress and data. Powell added: "Over time, we will see whether this policy is enough to limit inflation. But I think based on what I have mentioned before in press conferences and other occasions, the evidence is very clear that our policy is restrictive and is producing the effects we want to see." #MegadropLista #美国5月CPI超预期回落 #币安用户数突破2亿