Powell said: We are not in a hurry to cut interest rates before the impact of Trump's policies becomes clearer. We will not rush to cut interest rates before the impact of Trump's new government policies on the economy becomes clearer. Powell said: "The new government is implementing major policy changes in four different areas: trade, immigration, fiscal policy, and regulation. The uncertainty surrounding these changes and their potential impact remains high. Our focus is to distinguish between signals and noise as the outlook changes. We don't need to rush, and we are fully capable of waiting for a clearer outlook." Powell's speech came at a turbulent time when both the stock market and bond yields fell, and Trump announced high import tariffs on major trading partners Mexico and Canada, which were later postponed. Although Powell said the economy "continues to be in good shape," data also suggests that consumer spending may slow down, and businesses and companies are facing "increased uncertainty about the economic outlook." Powell added that key indicators remain robust, and progress in inflation and employment continues to increase, although it is uneven but still ongoing.

Summary: In plain language, Powell believes that "because Trump has just taken office and has been gradually announcing a series of plans, there is uncertainty in the tariff and other policy cycles, so the Fed is keeping an eye on it. He said that the Fed has the ability to distinguish between good and bad and the current market conditions. Currently, the economic situation is good, and there is no rush to cut interest rates. According to subsequent market changes, the Fed will adjust interest rates as needed.
Trump just finished the oval office press conference, did not mention the crypto market, wait for the crypto conference to end and then see, I got up an hour early to see the status and news of the US market, brothers take a nap, 3:30 will call everyone in the live room.
#White House Crypto Summit# #Trading Tips for Volatility# #GT 2024 Q4 Burn Completed#