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- 🚀 ETH jumped to $4,600 this morning, up 8.69% in 24h!
Just shy of the $4,891 ATH—think it breaks through?
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#BTC# Fed Chairman Powell: The Fed does not need to cut interest rates urgently.
2025/02/11 23:06
Golden Finance reported that Federal Reserve Chairman Powell conveyed a simple message to Congress at the beginning of a two-day hearing on Tuesday: Due to the strong economic performance, the Fed can slowly decide when and whether to cut interest rates. According to the prepared speech, Powell will tell senators on the Banking Committee, "Given that our current policy stance is less restrictive than before, and the economy remains strong, we do not need to rush to adjust our policy stance." Powell also defended last year's interest rate cuts, calling it a necessary adjustment to his policy stance to cope with improving inflation and cooling labor market conditions. Looking ahead, he said that if the inflation rate does not continue to fall to the target level and the economy remains stable, the Fed may keep interest rates unchanged for a longer period. Powell said that if the labor market unexpectedly weakens, or if inflation falls faster than expected to the 2% target, the Fed may cut rates.