Powell Raised Bitcoin Up
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At yesterday's Fed meeting, it was decided to leave the rate at the old level of 5.50%, which was quite expected, but Powell's comments surprised the markets.
Jerome Powell noted that Fed policymakers are now focusing on when to cut rates as inflation continues to fall toward its 2% target. And he added: "The difference in forecasts reflects lower inflation than previously expected."
Current positive forecasts have pushed BTC up 6% and given Powell's attitude, we may see the first rate cuts as early as next year.
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