The Bank #الاحتياطي_الفيدرالي kept interest rates unchanged last week, in line with expectations. Federal Reserve Chair Jerome Powell stated in a statement that he would take cautious actions in #خفض_أسعار_الفائدة , citing concerns about tariffs.

While the developments between the United States and Iran following the interest rate decision negatively impacted Bitcoin ($BTC ) and alternative currencies, the signing of the ceasefire between Iran and Israel brought the markets back to their upward trajectory.

While the ceasefire between Iran and Israel remained on the agenda, attention turned to Federal Reserve Chair Jerome Powell's speech.

When will Federal Reserve Chair Jerome Powell give his speech?

At this stage, Federal Reserve Chair Jerome Powell will present the "Monetary Policy Report for Six Months" to Congress today and tomorrow.

Federal Reserve Chair Jerome Powell will give a presentation before the House Financial Services Committee today at 5:00 PM Turkey time and will answer questions from committee members.

While all the attention is focused on Powell's speech, the text of the speech was published in advance.

According to the published text, the Chairman of the Federal Reserve is preparing to inform Congress that tariffs may cause temporary price increases, but the Federal Reserve is focused on preventing them from turning into sustained inflation.

While Powell did not mention a rate cut in July in his speech, he emphasized the need to be patient and wait for more inflation and labor data before making any cuts.

At this stage, Powell confirmed that the Federal Reserve is focused on jobs and inflation amid uncertainty, stating that the economy is stable, unemployment is low, and inflation is decreasing, but still slightly above the 2% target.

"Despite increasing uncertainty, the economy remains strong.

The unemployment rate remains low, and the labor market is at or near maximum employment. Inflation has decreased significantly, but it is still slightly above our long-term target of 2%.

Increasing uncertainty regarding tariffs is likely to raise inflation and negatively impact economic activity.

The Federal Reserve's commitment is to keep inflation expectations as they are so that any one-time increase in price levels does not turn into a persistent inflation problem.

"I won't touch on interest rates until there is more clarity on trade."

Donald Trump targets Powell again!

While markets await Powell's speech, U.S. President Donald Trump attacked Powell again.

Trump strongly criticized Powell's interest rate policies, arguing that the economy is in good shape, emphasizing the need to lower them.

Trump confirmed that he expects Congress to take action on this issue, arguing that the interest rate should be lower by at least two to three points. At that point, Trump stated that the United States would save $800 billion annually this way.

Trump reiterated a naive statement about Powell:

"Powell will explain today, among other things, why interest rates are not being lowered.

There have been 10 cuts in Europe, but we have zero. There is no inflation, and the economy is fine. The rate cut should be at least two to three points.

"I hope Congress takes real action against this stupid and stubborn person. We will pay the price for his incompetence for years to come."

Federal Reserve Board members Michelle Bowman and Christopher Waller expressed their support for lowering interest rates in July.

*This is not investment advice.

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