The recent banking crisis has investors expecting the Fed to stop raising interest rates or even lower interest rates. It seems these folks didn’t pay attention to what Jerome Powell said across over 5 hours of testimony to US politicians last week.
The Fed is intent on raising interest rates and keeping them higher for longer until either inflation comes down or unemployment starts to rise. Potential issues in the US government debt market are another thing the Fed is watching, of course.
Well, inflation is still running hot at 6%, unemployment is still below 4%, and the US government debt market is working fine. This suggests that the Fed will keep at it despite the recent banking crisis. Jerome’s recent comments reveal a bit about crypto too.
I covered this all in my recent video on his testimony.
⛓️ 🔗 Useful Links 🔗 ⛓️
► Jerome Powell Senate Testimony: https://www.youtube.com/live/18a_-nAg…
► Jerome Powell House Testimony: https://www.youtube.com/live/u84uAdQC…
📜 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.