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🟠POWELL DEMANDS POSITIVE DATA FOR RATE CUTS

🟠POWELL DEMANDS POSITIVE DATA FOR RATE CUTS

Day: 09 | Time: 17:14:12.000Z Federal Reserve Chair Jerome Powell has stated that more positive data is needed to justify interest rate cuts. He emphasized that inflation is not the only risk being faced and that a restrictive policy helps reduce downward pressure on inflation. However, he also stated that easing restrictions too early or too little could weaken economic activity. Powell is committed to bringing inflation back to the 2% target and stabilizing long-term inflation expectations. Following his speech, the price of Bitcoin rose above $58,000.

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US Federal Reserve (FED) Chairman Jerome Powell appeared in front of the cameras before the CPI and PPI data to be announced this week.

Speaking at the Senate Banking Committee today, Powell made important statements.

Powell, who has taken a cautious stance so far by stating that more positive data is needed for interest rate cuts, said that more data is needed for interest rate cuts.

The highlights of Powell's speech are as follows: