Hope you all had a pleasant weekend away from the craze of the crypto markets.
It’s time for a new video on the channel though!
I know how much you guys love my breakdowns of what goes on in the US government with crypto related hearings. That’s why I couldn’t resist making a video about Jerome Powell’s testimony two weeks ago. After all, this is the man that can move markets with his words.
This was a particularly important hearing as it was the last hearing before that infamous “March Meeting” (taking place in 2 days).
Jerome’s been in a difficult position ever since inflation went ballistic, and Russia’s recent invasion of Ukraine has made things worse.
The war in Ukraine has not only caused the price of oil and food to skyrocket, but the sanctions raised against Russia by the United States has made the global financial system somewhat unstable. There are even fears Russia could mount a cyber-attack in response too.
However, with the recent inflation reading coming in at over 7.9%, Jerome is going to have to act – whether the markets like it or not.
This is the backdrop for Jerome’s hearings, and trust me when I say that these are definitely the most intense I’ve seen so far.
The questions were crazy, the answers were crazier, and it paints a pretty clear picture for what effect the Fed could have on the crypto market.
⛓️ 🔗 Useful Links 🔗 ⛓️
► About The Federal Reserve: https://www.federalreserveeducation.o…
► House Financial Services Committee: https://financialservices.house.gov
► Senate Banking Committee: https://www.banking.senate.gov/
► Federal Reserve Interest Rate: https://fred.stlouisfed.org/series/FE…
► Federal Reserve Balance Sheet: https://fred.stlouisfed.org/series/WALCL
► Federal Reserve Board of Governors: https://en.wikipedia.org/wiki/Federal…
► Federal Reserve Board Nominees: https://www.npr.org/2022/02/15/108089…
📜 Disclaimer 📜
The information contained herein is for informational purposes only. Nothing herein shall be construed to be financial legal or tax advice. The content of this video is solely the opinions of the speaker who is not a licensed financial advisor or registered investment advisor. Trading cryptocurrencies poses considerable risk of loss. The speaker does not guarantee any particular outcome.