๐ ๐๐๐๐ซ๐๐ฅ ๐๐๐ฌ๐๐ซ๐ฏ๐ ๐๐ก๐๐ข๐ซ ๐๐๐ซ๐จ๐ฆ๐ ๐๐จ๐ฐ๐๐ฅ๐ฅ ๐๐๐ฅ๐ข๐ฏ๐๐ซ๐ฌ ๐ ๐ฆ๐๐๐ฌ๐ฎ๐ซ๐๐ ๐ฌ๐ฉ๐๐๐๐ก ๐ญ๐จ๐๐๐ฒ, ๐ซ๐๐ข๐ง๐๐จ๐ซ๐๐ข๐ง๐ ๐ โ๐ก๐ข๐ ๐ก๐๐ซโ๐๐จ๐ซโ๐ฅ๐จ๐ง๐ ๐๐ซโ ๐ข๐ง๐ญ๐๐ซ๐๐ฌ๐ญโ๐ซ๐๐ญ๐ ๐๐ง๐ฏ๐ข๐ซ๐จ๐ง๐ฆ๐๐ง๐ญ ๐๐ฆ๐ข๐ ๐ฉ๐๐ซ๐ฌ๐ข๐ฌ๐ญ๐๐ง๐ญ ๐ข๐ง๐๐ฅ๐๐ญ๐ข๐จ๐ง ๐๐ง๐ ๐ ๐ฅ๐จ๐๐๐ฅ ๐ฌ๐ฎ๐ฉ๐ฉ๐ฅ๐ฒ ๐ฉ๐ซ๐๐ฌ๐ฌ๐ฎ๐ซ๐๐ฌ.
He emphasized that the U.S. economy, while solid, remains exposed to ongoing inflationary forces, particularly from supply chain disruptions and tariffs, and signaled that rate cuts are not imminent .
Powell noted the Fedโs ongoing โframework overhaul,โ which aims to enhance its guidance tools and better communicate risks and policy pathsโthough he stopped short of signaling any nearโterm easing . He stressed that inflation expectations remain firmly anchored but cautioned that any deviation from the 2% target could prompt decisive action.
On the markets, Powellโs remarks boosted Longโdated Treasury yields by 15โ20 basis points, signaling investor confidence in a prolonged policy stance . For crypto markets, this outlook spells continued pressure: stable or rising rates typically dampen risk assets, including Bitcoin and altcoins.
Bottom Line
Powellโs speech today leans firmly bearish for crypto in the near term, given the Fedโs stance on maintaining high rates and prioritizing inflation stability. However, any surprise updates in communication frameworks or slowing inflation data could offer a catalyst for crypto upside.
