Here are some of the most important quotes that I want to highlight from Powell’s speech:
SIZE OF FEBRUARY RATE HIKE WILL DEPEND ON INCOMING DATA
POWELL
ECONOMY HAS SLOWED SIGNIFICANTLY FROM LAST YEAR’S PACE
POWELL
WE ANTICIPATE THAT ONGOING HIKES WILL BE NECESSARY TO BECOME SUFFICIENTLY RESTRICTIVE
POWELL
WE REQUIRE SIGNIFICANTLY MORE EVIDENCE OF LOWER INFLATION
POWELL
THE HISTORICAL RECORD STRONGLY WARNS AGAINST PREMATURE LOOSENING
POWELL
NO RATE CUTS UNTIL CONFIDENT INFLATION MOVING TOWARD 2%
POWELL
RATE-HIKE SPEED IS NO LONGER THE MOST IMPORTANT QUESTION
POWELL
SIZE OF FEBRUARY RATE HIKE WILL DEPEND ON INCOMING DATA
POWELL
AFTER MOVING SO QUICKLY, WE BELIEVE IT IS APPROPRIATE TO SLOW THE PACE OF RATE HIKES
POWELL
Judging by the reaction of the market, investors did not draw anything new for themselves and everything remained approximately at the same level. But the fact that the Fed is not the biggest irritant for the market is already a fact, the rates are already priced, and to start the recovery, it remains to wait for the improvement of fundamental factors in the crypto market itself.
From the middle of the channel, I continue to wait for growth to the 18500 area.
End of the post
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