🇺🇸 🏦 Statement by Jerome Powell, Chair of the Fed this Wednesday #TrumpVsPowell
- We are well positioned to wait for more clarity before considering any changes to our policy.
- The economic impact of tariffs is likely to be greater than expected.
- The American economy is strong despite the uncertainty.
- Higher than expected tariffs likely mean higher inflation and slower growth.
- It is still unclear what the new trade policies will be.
- We may soon find ourselves in a situation where a difficult decision will need to be made.
- Volatility is likely to continue.
- Crypto is becoming increasingly mainstream.
- We are close to a legal framework for stablecoins that could have broad appeal.
- I believe there will be a loosening of banking rules regarding crypto.
- There will be a relaxation of certain rules to allow for innovation, but this must be done in a way that does not make banks less safe and sound.
- AI is likely to bring about radical changes. It is difficult to know how this will materialize.
- The Fed will not be influenced by political pressure.
Thus concludes the speech of the most volatile man in all cryptocurrencies.