Last week was calm for the Federal Reserve, which kept interest rates unchanged. Jerome Powell's speech and the reaction to news about trade tariffs became significant events in the financial markets.
Jerome Powell's Speech
Jerome Powell, the chairman of the Federal Reserve, will present the ‘Six-Month Monetary Policy Report’ to Congress. The speech is scheduled for today at 17:00 Turkish time, after which Powell will answer questions from members of the House Financial Services Committee.
Donald Trump's Critique
US President Donald Trump has once again criticized Powell's interest rate policies, arguing that the economy is in good shape and that rate cuts are necessary. Trump expressed hope that Congress would take action regarding this matter.
> “I hope Congress will really take action against this very stupid and stubborn individual. We will pay the price for his incompetence for years to come.” CITE_W_A
Market Response to the News
Recent developments in US-Iran relations also had a negative impact on Bitcoin and altcoins. However, the signing of a ceasefire between Iran and Israel helped the markets recover. Despite these changes, all eyes are on Powell's speech and its implications for financial markets.
Jerome Powell's speech and the response to economic conditions remain in focus as policymakers discuss the necessity of changing interest rates. Uncertainty in the markets continues.
