Powell's speech highlights and analysis:
Current economic situation:
1) Slow GDP growth: The economic growth rate has slowed down, but it is still growing.
2) Low unemployment rate: The job market is performing well and the unemployment rate remains low.
3) Inflation has eased: Although inflation has eased, it is still higher than the Fed's 2% target.
Monetary policy:
1) Interest rate stability: The interest rate remains between 5.25% and 5.5%, and the interest rate will not be adjusted until inflation reaches the 2% target.
Views on interest rate cuts:
1) Conditions for interest rate cuts: Powell said that whether to cut interest rates will depend on changes in the unemployment rate. If the unemployment rate rises, interest rate cuts will be taken quickly, otherwise the status quo will be maintained. Therefore, the unemployment rate data needs to be focused on next.
Impact on the market:
1) Market reaction: Powell's speech had little impact on the market, and Bitcoin (BTC) quickly gave up its gains after a brief rebound.
In terms of operation, the targets worth paying attention to are:
1) Strong mainstream coins: $BTC, $ETH, $BNB, $SOL
2) Recently concerned altcoins: $BOME, $PEPE, $PEOPLE
3) Other targets: $ONDO, $ENS, $CORE, as well as IDO projects and pizza🍕!
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