Fed Chairman Jerome Powell, He gave his highly anticipated speech in Jackson Hole, Wyoming, and made some rather dovish remarks.
Powell said he has increased confidence that they will reach the 2% inflation target and that it is time to ease monetary policy, adding that the timing and pace of interest rate cuts will depend on incoming data and the balance of risks.
While Powell made positive statements Bitcoin The price has risen and crossed $62,000. However, in the current situation BTC It has pulled back slightly and is trading at $61,500.
Bitcoin surges during Powell speech Dollar Index (DXY) It fell below 101 for the first time since December.
What Happened?
After years of near-zero interest rates FED It began a long period of rate hikes in early 2022, raising interest rates to 5.25%-5.50% in 2023.
For over a year, the Fed has kept interest rates steady in this range, waiting for greater confidence that inflation would reach its 2% target before starting to cut rates.
Powell He said that now is the time to ease monetary policy, as confidence has increased that the 2% target will be achieved.
The next question will be by how much the Fed will cut interest rates at its September meeting.
As markets continue to trend toward 25 basis points, the probability of a 50 basis point cut is priced in at 32.5%, while a 25 basis point cut is priced in at 67.5%, according to CME FedWatch.
*This is not investment advice.
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Source: https://www.bitcoinsistemi.com/powell-konustu-bitcoin-btc-yukseldi-dxy-cakildi-iste-son-durum/
