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🛑FED CHAIR POWELL ON MONETARY POLICY

🛑FED CHAIR POWELL ON MONETARY POLICY

Day: 09 | Time: 17:38:22.000Z According to Odaily, Federal Reserve Chairman Powell has stated that he will not provide signals on the timing of future monetary policy actions. He emphasized that rising inflation is not the only risk the economy faces, slightly increasing the possibility of a rate cut in September. However, Powell's testimony did not have a significant impact on the price of Bitcoin (BTC). After a brief bounce, BTC quickly gave back its gains and is currently slightly above $57,000, with slight growth in the past 24 hours. The latest inflation data will be released this Thursday. The US Consumer Price Index (CPI) report for June is expected to show a 0.1% increase in prices last month, with core prices (excluding food and energy) increasing by 0.2%. On an annual basis, the general inflation rate is expected to reach 3.1% and the core inflation rate to reach 3.4%. Any unexpected variation could quickly change the possibility of a rate cut in September. #Bitcoin #Fed #inflation

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Source: https://www.binance.com/en/square/post/10571549462081