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On June 2, U.S. Federal Reserve Chairman Jerome Powell delivered an important speech amid tense economic and political conditions. Here are the key points

Monetary Policy and Federal Independence

- Powell emphasized that the Federal's decisions will be based on economic data and not on political pressures, despite his recent meeting with President Trump, who pushed for interest rate cuts.

- He mentioned that the Federal is considering reviewing the monetary policy framework to keep up with economic changes since the COVID pandemic, but did not provide clear hints about imminent changes in interest rates.

Inflation and Tariffs

He warned that the new tariffs announced by Trump (doubling steel and aluminum tariffs to 50%) could temporarily increase inflationary pressures, but the Federal will monitor their impact on the economy.

- He noted that inflation remains within the target range, focusing on upcoming labor market indicators, such as the non-farm payrolls report scheduled for June 6.

Response to Resignation Rumors

- Powell denied the rumors that spread on social media regarding his resignation, affirming his commitment to his position until the end of his term in 2026.

He stressed the independence of the Federal, pointing out that the Supreme Court confirmed the president's inability to dismiss the central bank chairman.

*Economic Outlook

- He indicated that a rate cut in 2025 remains a "plausible possibility"