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Reading: Powell’s Remarks and Cryptocurrency: What Investors Should Know
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COINTURK NEWS > Economy > Powell’s Remarks and Cryptocurrency: What Investors Should Know
Economy

Powell’s Remarks and Cryptocurrency: What Investors Should Know

In Brief

  • During the recent Fed meeting, as expected, interest rate hikes were put on hold. Now, Powell will make new statements, and investors are curious about his views on the economic outlook. If his comments undermine optimism, they could trigger a decline in the cryptocurrency market. Powell’s Remarks and Cryptocurrency A few minutes ago, Powell’s speech […]
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During the recent Fed meeting, as expected, interest rate hikes were put on hold. Now, Powell will make new statements, and investors are curious about his views on the economic outlook. If his comments undermine optimism, they could trigger a decline in the cryptocurrency market.

Powell’s Remarks and Cryptocurrency

A few minutes ago, Powell’s speech at the Research and Statistics Division’s Centennial Conference began. The text of the speech was just released, and investors were disappointed.

Fed Chairman Powell will not comment on monetary policy or the economic outlook in his introductory speech at the central bank’s statistical conference. He has another speech later this week, and other members will also make statements in the coming hours.

Powell and other members’ comments on the economy throughout the week should be closely monitored by investors. The current outlook suggests that interest rates will remain unchanged at the December meeting. In other words, the current interest rates are almost certain to be the peak. This disappointed those who were expecting interest rates above 6%.

Next year, with a 100bp cut in interest rates, the continued easing in inflation could bring better days for risk markets.

The highlights of today’s statements are as follows:

“Some people are interested in extremely challenging tasks. These are the individuals who have chosen the task of predicting the course of the US economy with constant updates between FOMC meetings and eight times a year. They do this with great dedication, knowing that the economy often surprises us.

This job also requires a high dose of courage and humility. And finally, judgment. To complete this meticulous process, there must be good judgment based on information and experience.”

For the Research and Statistics Division, perhaps the most important legacy of the past century is the resilience, creativity, energy, meticulousness, and dedication displayed by R&S in the face of numerous challenges for itself and our country during this period. On behalf of the Board and the FOMC, I would like to thank you for this and congratulate you wholeheartedly on your first 100 years of service to the public.”

You can follow our news on Telegram, Facebook, Twitter & Coinmarketcap
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should conduct their own research.

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COINTURK NEWS 8 November, 2023 - 7:39 pm 8 November, 2023 - 7:39 pm
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