Last night, Powell said: The Fed has made significant progress in inflation, but it will loosen monetary policy only when it is more confident that inflation will continue to fall to around 2%.
The US inflation rate is expected to be no more than 2.5% in the next year. When asked about the interest rate cut in September, he was not sure about the specific date.
He also said that the United States has solid growth and a strong labor market, service industry inflation is sticky and related to wages, and the policy is appropriately restrictive and achieves the desired effect.
Affected by this, US stocks rose and the cryptocurrency market fell, just because Powell did not give a definite signal of interest rate cuts.
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