🗣 Jerome Powell's Main Points
After the Fed left the rate at 5.50%, Powell held a conference and here are the main points:
🔴 Powell says inflation is still too high and further progress in bringing it down is not guaranteed.
🔴 According to Powell, in recent months, inflation has shown a lack of further progress in reducing it.
🔴 The Fed chief reiterates that the economy remains strong.
🔴 Powell says the economy will not accelerate despite the previous easing of financial conditions.
🔴 Notably, Powell doesn't mention the possibility of rate hikes when he talks about inflation risks, simply saying that policy will be paused if necessary.
🔴 Powell said rates will become quite restrictive over time and that there are no plans to increase them.
📈 In general, Powell's mood was positive, since the Fed does not plan to raise rates, but rather expects inflation to fall this year. Against this background, BTC grew by 5% and almost returned to $60 thousand.
