đŁ Jerome Powell's Main Points
After the Fed left the rate at 5.50%, Powell held a conference and here are the main points:
đŽ Powell says inflation is still too high and further progress in bringing it down is not guaranteed.
đŽ According to Powell, in recent months, inflation has shown a lack of further progress in reducing it.
đŽ The Fed chief reiterates that the economy remains strong.
đŽ Powell says the economy will not accelerate despite the previous easing of financial conditions.
đŽ 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.
đŽ Powell said rates will become quite restrictive over time and that there are no plans to increase them.
đ 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.