Hot News 🔥 FED Governor Speaks Before Inflation Data!

FED vice president made a speech before inflation data.

A critical week has begun for the cryptocurrency industry and traditional financial markets. As of this week, inflation data coming from the USA on Wednesday will directly affect the price movements of all dollar-indexed investment instruments.

Today, in particular, US Federal Reserve (FED) Vice President Philip Jefferson appeared in front of the cameras and made statements. Here are the important statements of the FED Vice President before the critical data:

“Clear communication is important for central banking. Sometimes the FED's statements can be misinterpreted.

The economy has made much progress, but the rate of decline in inflation has slowed.

The labor market is quite resilient.

Despite everything, inflation has fallen significantly from its peaks.

I see the economy in a solid position.

It would be appropriate to keep the policy rate in the restrictive region.

It is important to look for more evidence that inflation is falling. Inflation is a concern.”

The FED vice president has emphasized many times in his recent statements, although he did not give much detail, that it is very important for inflation to fall.

In the coming period, 65 out of 108 economists say that the FED will reduce interest rates by 50 basis points in 2024. The FED's initiation of the interest rate reduction process may have a positive impact on crypto assets.