The XRP community is actively discussing the upcoming announcement from Fed Chair Jerome Powell, which may significantly impact the cryptocurrency market.
Political Pressure on the Federal Reserve
Powell is set to make a statement at 2:30 PM ET that could trigger market fluctuations. President Donald Trump has criticized Powell, citing high interest rates that he believes threaten economic growth.
No Immediate Rate Cut Expected
According to Investopedia, the market does not expect an announcement of a rate cut at tomorrow's meeting. Attention is focused on whether Powell will indicate potential cuts in September when employment data for July and August are available.
Diverging Views Within the Fed
Not all Fed officials agree on current policies. Fed Governor Christopher Waller has advocated for a preemptive rate cut, while Atlanta Fed President Raphael Bostic urges caution due to potential inflationary impacts.
The XRP community is keenly focused on Powell's statement tomorrow, which could serve as a turning point for the asset, depending on hints regarding changes to monetary policy.
