🚨Summary of the FED Press Conference🚨
🟥 Jerome Powell:
• Members of the US Federal Reserve are adamant that it would not be appropriate to cut rates, until they have confidence in achieving the inflation target.
🔴 Jerome Powell:
• As long as the US economy remains strong and as long as inflation is above 2%, the US Federal Reserve will keep interest rates high for a long time.
The Federal Open Market Committee reduced interest rate hike expectations and the number of times by a third this year
And raised it by 25% next year
It also raised its expectations for the inflation rate by the end of the year from its previous expectations
Meaning, in a simplified way, that the committee reduced the pace of interest cuts this year
🟥 Jerome Powell:
• Currently, it is not possible to know whether high interest rates will return to their historically low levels before the Corona epidemic or not.
• The US Federal Reserve is prepared to keep interest rates high for a long period, as long as this is necessary to achieve the inflation target.
• Inflationary pressures have calmed significantly, but inflation is still high and above its target.
💥 Jerome Powell:
• We do not have a specific date for reducing interest rates, and when we are confident that inflation returns to its target, we will take a decision to reduce interest rates.
👈 In short:
• The US Federal Reserve frustrated the optimism of those waiting for an imminent rate cut.
$BTC Dumped = The Market Dumped
Don't forget to follow and like for MORE Exclusive Content🥂
