$USDC The market was expecting something, anything. A hint, a nod, a vague phrase allowing for speculation on what the U.S. Federal Reserve (the Fed) would do with interest rates for the rest of the year.
But Jerome Powell, the chairman of the Federal Reserve, spoke and said nothing. Or rather, he said a lot without saying anything. His speech was shy, lacking in persuasion, predictable, and more like a smart chat program from the world's most influential central bank head.
There was no interest rate cut as expected. And there were no signs of one approaching. But there are also no indications of one being far off. The Fed's monetary policy remains "wait and see." Powell hinted again that decisions would be made meeting by meeting, and that everything depends on the evolution of inflation and employment. Clichéd, neutral, worn-out phrases. At this point, listening to Powell is like listening to the same audiobook over and over again.
