The Federal Reserve left the Fed funds rate unchanged in line with expectations. With the realization of the expectation, gold and the crypto market reacted to the decision with a rise. Fed Chairman Jerome Powell speaks at a press conference after the interest rate decision. At the post-decision press conference, Powell explains the decision to leave the federal funds rate, the policy rate, unchanged at 5.25%-5.5% and answers questions.

Fed Chairman Jerome Powell speaks.

Cryptocoin.comAs you have been following from the Fed, the Fed left the policy rate unchanged. This was in line with expectations. However, when the Fed will start cutting interest rates is important for the markets. In addition, it is also a matter of curiosity how many rate cuts there will be this year. JPMorgan and Goldman Sachs believe that the Fed will cut interest rates in July. Wells Fargo predicts that the Fed will cut rates in September. Bank of America, the most rigid, does not expect any rate cut until December. Amid these expectations, the markets are carefully listening to the speech of Fed Chairman Jerome Powell, who appeared before the cameras after the interest rate decision. Here are the highlights of Powell’s speech:

Powell: Further inflation progress not guaranteed

• The economy has made significant progress towards bilateral goals.
• Inflation has come down significantly in the past year but is still too high.
• Further progress on inflation is not guaranteed; the path is uncertain.
• The restrictive stance put downward pressure on inflation and the economy.
• Risks to achieving the dual targets have stabilized better over the past year, but inflation has not improved.
• We are very cautious about inflation risks.
• Domestic private final purchases were as strong as in the second half of last year.
• This is an important fundamental signal for demand.
• The labor market remains relatively tight.
• Nominal wage growth has slowed over the past year, but labor demand still exceeds supply.
• Inflation data this year has been higher than expected.
• Long-term inflation expectations are well anchored.
• Our policy actions are driven by our goals.
• Monetary policy actions are guided by a dual mandate.

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