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Cryptocurrency investors consider global monetary easing highly significant, with recent meetings indicating a start. In today’s meeting, a 25 basis point reduction was implemented. Only one more reduction remains for the Fed to reach its annual goal of a 100 basis point decrease, which is anticipated to occur in December. What insights does Powell provide?
Statements from the Fed Chair
The Fed stated it closely monitors current inflation trends along with the 25 basis point cut. Powell addresses the media after each interest rate decision, answering questions. This week, optimism prevails in the markets following Trump’s presidential victory. Does Powell bolster this optimism?
Below are key points from Powell’s statements. According to CNBC, Trump will allow the current Fed chair to remain in position until the end of his term.
- Powell started speaking.
- The labor market remains robust. Inflation has significantly decreased.
- The Fed has taken another step towards reducing policy restrictions. Consumer spending growth remains resilient.
- Improved supply conditions have supported the economy.
- Hiring would have been slightly higher without storms and strikes.
- Wage growth has slowed. Labor market conditions are less tight than before the pandemic.
- The labor market is not the source of inflationary pressures.
