FED Chairman Powell Speaks! Will it have an impact on Bitcoin (BTC)?

FED Chairman Jerome Powell's speech has started now.

As of today, the United States (USA) is on the main agenda of financial markets. Economic data from the USA and the statements of the US Federal Reserve (FED) officials have recently affected crypto assets.

FED Chairman Jerome Powell's speech began at the Annual FBA Meeting in Amsterdam. Here are Powell's words in the first minutes of this speech:

The US economy has a very strong labor market. The economy is performing well.

Consumer spending and business investment are strong.

There are still labor shortages in many industries, but overall, a look at US economic data shows a good picture so far.

There are signs of gradual cooling in the labor market as supply and demand come into better balance.

The decline in inflation in the first quarter was notable for its lack of further progress.

We did not expect a smooth path on inflation, we must be patient and let politics do its job.

We expect GDP growth to continue at 2% or better.

We expect the labor market to continue to rebalance but remain strong.

My confidence that inflation will fall again is lower than before.

Producer Price Index data was quite mixed.

Restrictive policy may take longer than expected to work and may reduce inflation.

I don't think the next move will be an interest rate increase. We are more likely to keep the policy rate where it is.