All Eyes on Bitcoin Turned to Powell’s Statements: What Time Will He Speak? Here are the Expectations and Things to Know!

FEDAlthough the high inflation that has been struggling for a long time has receded, it still remains above the FED’s 2% inflation target. However, the FED started the interest rate reduction cycle.

At this point, the FED, which started its first interest rate cut with 50 basis points in September, made its second cut of 25 basis points in November.

While the FED is expected to cut interest rates in December, after yesterday’s inflation data, the probability of the FED cutting interest rates in December is priced at 82.3%. It was priced at 60% before the CPI data.

Even though the FED has started to reduce interest rates, the search for direction in global markets continues due to the continuing inflation concerns and the risks that possible protectionist policies in the future may strengthen the inflation pressure again.

While the search for direction in global markets continues Fed Chairman Jerome PowellThe statements he will make about the economic outlook are also eagerly awaited.

Powell will make public statements for the first time since his press release following the FED interest rate decision on November 7.

At this point, Powell’s statements are expected to give important clues about the direction of monetary policy, the interest rate decision in December and the FED’s inflation-fighting strategies.

FED President Jerome Powell’s speech today will start at 23.00 GMT.

On the other hand, FED Chairman Powell’s statements Bitcoin (BTC) and it is expected to have an impact on cryptocurrency prices and increase the mobility in prices.

What Do FED President and Members Think?

Fed Chairman Jerome PowellIn his speech following the interest rate decision announced recently, he said that inflation had eased significantly and dropped significantly towards 2 percent.

Stating that they do not have a predetermined route and that they make decisions by evaluating data from meeting to meeting, Powell said, “It is difficult to predict the economy. “I will not make any guesses, predictions or speculations,” he said.

Stating that the latest inflation figures are not too bad, but slightly higher than expected, Powell said that they will look at the data and economic outlook at the December meeting and try to manage the risks of moving too quickly or too slowly.

Apart from the FED chairman, the statements of senior officials are also closely watched by investors. At this point Minneapolis Federal Reserve Chairman Neel KashkariStating that inflation data is following a positive course, he said that the discount process should continue.

St. Louis Fed President Alberto Musalem He stated that the fight against inflation is at its final point, but monetary policy should continue to remain restrictive.

*This is not investment advice.