While Bitcoin was trading at the $ 29,000 limit, the eyes were turned to the statements that Powell would make.
The statements of Powell, who will be in front of the cameras for the first time after June 14, when the interest rate decision for June was announced, will be followed closely.
Powell will speak before the Financial Services Committee of the US Congress House of Representatives today at 5 PM.
It is expected that Powell’s statements will be similar to those he made after the interest rate decision on June 14, and in principle, he should not go beyond this. However, it is also stated that Powell may have to give new signals regarding monetary policy due to the questioning attitude of congressmen.
At the FOMC meeting held in June, expectations that FED members could make two more rate hikes in the rest of the year came to the fore. While economists state that the markets are not convinced that two more interest rate hikes will be made and that the pricing is shaped accordingly, whether Powell’s stance in the statements he will make today is hawkish will be decisive for the short-term direction of the markets.
Powell is expected to speak before the Senate Banking Committee tomorrow at 17:00.
You can find the statements made by Powell on 14 June in the related news.