Crypto NewsBitcoinToday is the Agenda in Bitcoin and Cryptocurrency FED Chairman Powell: Here...

Today is the Agenda in Bitcoin and Cryptocurrency FED Chairman Powell: Here is the Time and Details to Talk!

Today, Bitcoin and cryptocurrency followers will closely follow Powell's speech, which will give tips on interest.

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The traditional markets and crypto money market focused on the speech of Fed Chairman Jerome Powell today.

Powell will participate in the panel titled “Perspectives on Monetary Policy” as part of the Thomas Laubach Research Conference hosted by the Fed.

Powell’s speech will begin at 15:00 UTC time.

You can learn Powell’s statements instantly on our Twitter account and website.

The general consensus among Fed speakers this week was that inflation was too high and the Fed should remain hawkish to keep prices down, potentially requiring further rate hikes.

Fed interest rate futures show that markets are still in a position that the Fed will pause rate hikes in June. Bitcoin, gold and other precious metals are likely to come under pressure if interest rates stay high for longer.

Current Data Predicts Fed Will Pause Rate Raising

CME Group 30-Day Fed Fund futures prices are waiting for a pause in the rate hike of 62.2% before the FED’s interest rate decision in June, which is approximately 26 days away. A 25 basis point rate hike is expected at 37.8%.

Before Powell’s speech, the Bitcoin price is flat after yesterday’s decline and is trading at $ 26,861 at the time of this writing.

Powell is known for his pro-interest rate views. But even Powell may be constrained by how far he can go at this point. Unless the political stalemate over the US federal debt limit is resolved, it seems unlikely that the Fed will raise interest rates. If the US debt defaults, the central bank may even be urged to take urgent steps to ease the burden on the economy.

*Not investment advice.



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