FED Chairman Powell's Speech has Started! Will it have an impact on Bitcoin?

FED Chairman Jerome Powell's first press conference after the interest rate decision has started.

After the last interest rate decision, FED President Jerome Powell's press conference started. Here are Powell's first words at the press conference:

Inflation remains very high and further progress is not guaranteed.

The restrictive stance created downward pressure on inflation and the economy.

We are extremely careful about inflation risks.

The labor market remains relatively tight.

Nominal wage growth decreased last year, but labor demand still exceeds supply.

This year's inflation data was higher than expected.

Long-term inflation expectations remain stable.

Gaining greater confidence is likely to take longer than expected.

The inflation data received so far this year did not give us the expected confidence.

We will make every decision by meeting.

Slowing the pace of QT doesn't mean our balance sheet will shrink any less than it otherwise would.

Slowing down the pace of the second round will ensure a smooth transition in money markets.

Total portfolio flow will be approximately $40 billion per month.

The policy rate is restrictive enough.

I think the restrictive policy suppresses demand.

Layoffs and hiring rates have normalized.