October 20, 2023 Cryptocurrency Overview
Making statements regarding monetary policy, Powell stated that monetary policy is restrictive and that a restrictive policy continues to be implemented that will reduce inflation to the 2% target in a sustainable manner over time. He added that the course of monetary policy is constantly monitored, taking into account the growth in financial conditions and the impact of long-term loan returns.
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Jerome Powell’s emphasis on geopolitical tensions and global economic risks is an important evaluation. Geopolitical tensions relate to factors such as worldwide political or ministerial tensions, trade disputes, or tensions in international tensions. There were such tensions, financial markets and global economic activity. Powell’s statement that monetary policy decisions will be made depending on these factors shows how the Federal Reserve reacts to economic gains and risks.
In addition, Powell’s emphasis that they will continue to take decisions depending on the classification of monetary policy as variable indicates that they are aware of economic uncertainty and volatility and will warn the policy. This means that monetary policy can be adjusted depending on the course of the economy and inflationary pressures.
Finally, prices of cryptocurrencies such as Bitcoin (BTC) and Ethereum (ETH) can be affected by features such as volatility in financial markets and geopolitical risks. Therefore, Powell’s statements may have an impact on cryptocurrency prices. However, prices of cryptocurrencies can vary depending on many factors, so the effects on prices can be complex and combine multiple factors.
Fear and Greed are at ’53’, indicating a neutral situation.
What to Expect During the Day?
Hedera (HBAR): Hethers,js will be removed and the software solution used will continue to progress.
