1. Speech at the National Association for Business Economics
2. Impact on the American Economy
3. Prospects for the Cryptocurrency Market

Every statement by the Federal Reserve Chairman, Jerome Powell, is closely followed by financial markets. During his last speech on September 30, 2024, Powell expressed measured optimism about the Fed’s ability to bring inflation back to its 2% target.

Speech at the National Association for Business Economics

During the 66th Annual Meeting of the NABE (National Association for Business Economics), Jerome Powell reaffirmed his confidence in the Fed’s ability to bring inflation back to its 2% target. “We are confident that inflation is on a sustainable trajectory to reach our target,” he declared. Powell also pointed out that although the labor market remains strong, its gradual cooling over the past two years does not require further immediate interventions. He stated that any decision on new rate cuts would depend on upcoming economic data.

Impact on the American Economy

These statements are particularly important in the context of an American economy showing signs of resilience, despite inflation concerns. Powell emphasized that the path to controlled inflation remained difficult to predict with certainty and reiterated the Fed’s commitment to adjusting its monetary policy based on data developments. A further rate cut by the end of the year is not ruled out, but it will mainly depend on the upcoming inflation reports.

Prospects for the Cryptocurrency Market

Although Powell did not promise new rate cuts for 2024, the crypto market remains optimistic. Global monetary easing policies, especially in China, could benefit cryptos. If economic data remains favorable, a rebound could be expected, particularly with its bullish history in the fourth quarter. Jerome Powell’s optimism regarding inflation reduction, combined with a global environment favorable to monetary easing, seems to offer a conducive context for a crypto rally. As investors eagerly await the next economic indicators, major cryptos could well ride this wave and reach new heights before the end of the year. However, as always, caution is advised due to the volatility of cryptos.

Jerome Powell's statements on the prospects of reducing inflation are significant for the economy and financial markets. Further actions by the Fed and economic data will be closely monitored by both investors and analysts.