Critical moments have started for traditional financial markets and the cryptocurrency sector. US Federal Reserve (FED) Chairman Jerome Powell recently appeared before the cameras and began commenting on the economy.
Jerome Powell's statements may trigger volatile movements in the markets. Here are Powell's statements about the US economy on live broadcast:
Today's interest rate decision reflects increasing confidence that the strength in the labor market can be maintained.
Consumer spending remains resilient.
The economy is generally strong.
Inflation has fallen significantly, but remains above our target.
Long-term inflation expectations appear solid.
The labor market is not the main source of increasing inflationary pressures.
The FED can protect the existing workforce with policy adjustments.
We have reaped the fruits of our patient approach, and inflation is now much closer to our target.
Upward risks to inflation have decreased, while downward risks to the labor market have increased.
Our estimates are not a plan or a decision.
We will adjust policy when necessary.
If the economy remains strong and inflation continues, we can withdraw policy more slowly.
If the labor market deteriorates, we can take action.
