🧠 Key points from Powell's speech and their impact on the cryptocurrency market:
1. Indication of a potential interest rate cut in September:
Powell indicated that the Federal Reserve is "prepared to act" if economic pressures persist, which reinforces expectations of a rate cut at the next meeting. This statement could be positive for cryptocurrencies, as investors tend to favor high-yield assets like Bitcoin in a low-interest-rate environment.
2. Concerns about inflation:
Despite the indication of a rate cut, Powell warned that inflation still poses a threat, especially with rising tariffs that may affect prices. This warning could cause tension in the markets, leading to volatility in cryptocurrency prices.
3. Defense of the Federal Reserve's independence:
Powell emphasized the central bank's independence in making its decisions, which could enhance investor confidence in the stability of monetary policies. This statement could be positive for cryptocurrencies, as investors seek a stable environment to support their investments.