There was a lot of nervousness Before Jerome Powell’s speech at the Jackson Hall summit, but there is one clear thing: the merchants love what they heard.
The President of the Federal Reserve confirmed that the central bank “will consider changes in our position on politics” – in other words, indicating that interest rates may come soon.
He referred to the stable unemployment rate and promising economic data as major factors that allow reducing the cost of borrowing. However, inflation is still concerned Donald Trump’s tariff.
Powell was deliberately cautious. He warned of politicians not to possess carefully in the coming months, and left himself a lot of sparkling spaces to change the path if necessary.
But reading between the lines, analysts are now quite confident that we will see the basic interest rate of full moon by 25 basis points after their meeting next month – on the occasion of the first reduction in the United States so far this year.
During his recent speech as a president of Jackson Hall, Powell explained that his changing view It has nothing to do with Donald TrumpWho wanted to drop interest rates for several months and called for the president’s resignation.
The president’s response was explicit at the very least, hearing: “We call it” very late “for some reason.”
The reaction to the Powell address was immediately in the encryption markets. Bitcoin Immediately From $ 112,000 to levels above $ 117,000, but at the time of this report, it was settled about $ 115,000.
24h7d30d1Yall time
The real star of the show was on the rally on Friday. After four years of waiting, the second largest encrypted currency in the world finally reached its highest level ever in some exchanges, prompting the celebration of X. ETH by 15 % in less than three hours.
Although this is definitely an impressive performance, there is an important note worth adding here: officially, there He did not ATH was new. According to Coinmarketcap, this is still 4,891.70 dollars – as shown on November 16, 2021. Its data indicate that Friday’s peak was only $ 7.47 from the registration zone.
Ether was not alone in obtaining dual digital returns, either. Solana, Dukwin, Cardano, Soy, Avalinch and Polkadot accelerated more than 10 % in a sign that the appetite for the most dangerous assets grows.
24h7d30d1Yall time
Reducing the interest rate will be important – for many reasons. It makes government borrowing less expensive, and reduces the cost of everything from mortgages to credit cards. But decisively, it also reduces the return on savings in traditional bank accounts, pushing investors to search for healthy returns elsewhere.
https://media.zenfs.com/en/cryptonews_us_711/7a3b2e4e45a4b661d1c30d41733129c3
Source link