Key Takeaways from Jerome Powell’s Speech Today: What Next for Crypto?

Jerome Powell speech: US Fed Chairman Jerome Powell spoke Tuesday at the Economic Club of Washington DC with David Rubenstein, co-founder of Carlyle Group. Powell’s remarks came just one week after he gave the post FOMC press conference. The Fed’s last week 25 bps rate increase brought down unemployment to its lowest level in 50 years.
Here are the key points from Powell’s speech today:


When asked if a target of bringing inflation down to 2% would be maintained, the Fed Chair stated that it would. This means that policy tightening could continue up to the 2% target.
Powell stated that the year 2023 could see a significant decrease in inflation, which is a positive sign for the markets.
The disinflationary process will take a while. Powell stated that the Fed would raise rates more if data continues coming in stronger than expected.
While inflation is decreasing in the goods sector, it is not yet seen in the housing sector. This raises the question of whether there are any disinflation expectations.
When asked whether he believes the economy is under control with inflation and the geopolitical situation with the Ukraine war, the Fed primarily considers the supply and demand chains with the United States.
Powell spoke out about the concern that the economy is at risk of default due to the high debt ceiling. He said that it is the Congress who decides how high the debt limit should be.
Powell revealed that he receives a salary of $190,000.
Powell rides a bicycle, plays guitar, and reads fiction to relieve stress!


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