The US central bank FED announced the highly anticipated interest rate decision. The Fed increased the interest rate by 25 basis points, in line with expectations. Gold and Bitcoin price suddenly dropped with the FED decision, then recovered. FED Chairman Jerome Powell is holding a press conference half an hour after the announcement. Eyes on Jerome Powell’s statements… As Kriptokoin.com, we have compiled the details for you, let’s examine the subject together… The article will be constantly updated with the new statements of the FED Chairman. Update the page constantly so you don’t miss the explanations!
FED Chairman is speaking: Gold and Bitcoin investors’ eyes are on these statements!
FED, the US central bank, announced its expected interest rate decision. The Fed increased the interest rate by 25 basis points, in line with expectations. With this decision, the FED decided to increase interest rates for the first time since November 2018. The FED signaled 6 interest rate hikes for the rest of the year. However, in the dot chart of FED, a hawkish path direction was made especially for the near term. In the text of the resolution, it was seen that the effects of the Russia-Ukraine war were also emphasized.
FED also announced its projections on economic developments in its decision. The growth expectation, which was announced as 4 percent in December for 2022 in the text of the decision, was withdrawn to 2.8 percent. The 2023 growth expectation remained the same as 2.2 percent, while the 2024 growth expectation remained the same as 2 percent. Gold and Bitcoin price suddenly dropped with the FED decision, then recovered. Now, Fed Chairman Jerome Powell is speaking. FED Chairman Jerome Powell is holding a press conference half an hour after the announcement of the interest rate decision. Jerome Powell’s initial statements are as follows:
- FOMC plans to reduce balance sheet.
- We plan to increase interest rates further in 2022.
- FOMC participants adhere to strong growth prospects.
- We expect labor markets to remain strong in this environment.
- Reducing the balance sheet will play an important role in policy tightening
- In one of the next meetings, we will begin to narrow the balance sheet.
- The labor market looks extremely tight.
- The economic consequences of Russia’s invasion of Ukraine are rather uncertain.
- Continuation of interest rate increases seems appropriate.
- A future increase in federal funds rates would make sense.
- Inflation will take longer than expected to reach our previous targets.
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