Summary of Federal Reserve Chairman Powell's Speech: $BTC
Don't expect the Federal Reserve to step in to save the market; Trump is changing every day (due to tariff impacts, market uncertainty is very high, which also means increased volatility. Since Trump took office, he hasn't followed my advice. We may only see intervention when the market has digested things sufficiently because the future is uncertain for everyone)
Cryptocurrency is gradually becoming mainstream (establishing a legal framework for stablecoins is a good idea. Because of better market capacity, excellent safe-haven assets, and the key is its cryptographic nature)
Regulatory easing for cryptocurrency-related banks is expected to occur (for example, a certain entity recently abandoned regulation, etc.)
The Federal Reserve is always ready to provide dollar liquidity
(possibly increasing issuance, but more importantly, the Federal Reserve is prepared to provide dollar liquidity through its swap lines with other central banks when necessary)
Artificial intelligence is still in its early stages. (A transformative point of the new era, the future is unknown, and economic impact is inevitable; AI is more like a better version of humanity, but its impacts remain difficult to predict.)
Currently well-prepared to wait for a clearer situation (just two words: wait, waiting for subsequent policies, whether a situation similar to the last tariff machine breaking down will occur)
Economic growth in the U.S. in the first quarter of 2025 may slow compared to last year (PCE inflation is expected to be 2.3% in March, with core PCE growth of 2.6%.)
The impact of tariffs on U.S. inflation may be more persistent (because the crisis has already formed, the subsequent situation will only worsen)
Rising structural risks will reduce the attractiveness of the U.S. (the impacts of tariffs still exist, leading to reduced credit and concerns about U.S. Treasury bonds)
Discussing the impact of tariffs again, emphasizing that the labor market relies on price stability (still due to tariffs, the impact of tariffs has led to rising market prices, which in turn has indirectly reduced the economy. According to him, without price stability, we cannot create long-term strong labor market conditions that benefit all Americans.)
The Federal Reserve will not be influenced by political pressure (the independence of the Federal Reserve is granted by law.)