Highlights of Jerome Powell's Press Conference (FOMC)
➡️ The U.S. economy remains strong, with GDP in 2024 potentially exceeding 2%. ➡️ Inflation is approaching the target level but still remains somewhat elevated. ➡️ There is no need to rush to lower interest rates. ➡️ The Fed is focused on real progress in inflation and the labor market before taking further steps. ➡️ Forecasts are uncertain due to potential changes in the new administration's policy. ➡️ The U.S. is gradually moving away from dependence on trade with China. ➡️ Artificial intelligence is becoming an important factor for the stock market. ➡️ There is no need to wait for inflation to reach 2% to begin lowering rates. ➡️ Assets in the market are overvalued by many metrics. ➡️ Banks can work with cryptocurrencies with proper risk management.
Overall, the Fed maintains a wait-and-see position, noting that further changes in rates depend on macroeconomic data. $BTC
SEC has begun gathering comments on Canary's application to create a spot Litecoin ETF. This is one of the steps towards possible approval, after Nasdaq filed form 19b-4
The decision-making process may take several months.
➡️ AI agent platform ai16z is rebranding at the request of Andreessen Horowitz (a16z), the similarity to the name of which played a decisive role in the development of the startup.
➡️ ai16z has already sent information to crypto exchanges about renaming to ElizaOS. However, the name of the token remains AI16Z for now. There are no plans to issue new tokens either.
Elon Musk has struck a deal with Visa to create the 'X Money Account'
Elon Musk and Visa have entered into an agreement to develop the new digital wallet 'X Money Account'.
This project could change the approach to digital payments, but who knows, perhaps we'll all just get another way to spend money through Musk's technologies.
The author of the book "Rich Dad, Poor Dad" assures that a market decline is coming as early as February - allegedly, this decline is what he predicted many years ago.
The businessman urges to buy cryptocurrency, gold, and silver, assuring that "even one satoshi will make you rich". $BTC $ETH $SOL
Donald Trump criticized the actions of Federal Reserve Chairman Jerome Powell regarding interest rates, stating that he will return to discuss this issue 'at the appropriate time'.
'I am sure that I understand interest rates better than they do, and definitely better than the person making these decisions,' Trump emphasized in the Oval Office.
Despite his statements, the Federal Reserve intends to keep rates at the current level until the target inflation rate of 2% is achieved. $BTC
Eric Trump confirms: US crypto projects like XRP and HBAR will soon get 0% capital gains tax, while projects outside the country will face a 30% tax
Meanwhile, Senator Ted Cruz opposes the new IRS rule requiring DeFi brokers to disclose user data. His initiative is aimed at protecting decentralization and privacy.
Chainlink Manager: The US government will not switch to a single blockchain
Chainlink community manager Zach Rhyne believes that US government agencies will utilize different public and private blockchains.
The expert emphasizes that the interests of the Environmental Protection Agency (EPA) do not align with those of the Department of Defense (DoD) and the Department of Homeland Security (DHS).
Rhyne also predicts a more active use of cross-chain solutions for data exchange. $ETH