🚨 Jerome Powell’s Speech Highlights: What Should Investors Watch For?

Author

CoinGape Media
September 19, 2024

News

Federal Reserve Chair Jerome Powell backed the move to slash interest rates adding that the US economy is in good shape.

The Federal Reserve slashed interest rates for the first time in four years sparking market movements as participants digest Jerome Powell’s outlook on policy directions. The Federal Reserve Chair expressed satisfaction with the interest rate cut by 50BPS. Meanwhile, crypto prices are expected to record growth as funds flow to risky assets.

Anti-Bitcoin Economist Peter Schiff has warned of an impending US recession following the 50 basis points rate cut by the Fed

Gold proponent Peter Schiff sees the possibility of the latest Interest rate cut by the US Federal Reserve fueling recession and even inflation. He described the latest interest rate cut of 50-basis-point as the Fed Reserve giving in to the market. Schiff believes that the situation with the inflation makes the recession even worse.

The cryptocurrency world is unimaginably exciting. For many, it may be a hype thing to say, but those who have the full experience will completely agree.

Let’s quote a fact to support this statement – cryptocurrency exchanges offer free cryptos for beginners to embark on their fresh journey on their platform. These bonuses, or free cryptos, are coined as crypto signup bonuses.

Markets

BTC, ETH, SOL, and XRP prices embark on a upward trajectory following the Fed's 50bp rate cut.

The broader market took a phenomenal upward trajectory after the latest U.S. FOMC meeting announced an interest rate cut of 50bp. Bitcoin (BTC) price breached the $62K level, whereas Ethereum (ETH), Solana (SOL), and XRP prices gained 1%-4% in tandem.

Through Rexas Finance’s blockchain-based platform, you can sell and purchase fractional real-world assets (RWAs) equity such as real estate from any part of the globe.

The world of crypto is active 24/7! If you like XRP, Polygon, or Rexas Finance (RXS), a few days ago must have felt like an amusement park. From the XRP’s bullish breath to the MATIC-to-POL migration by Polygon, and Rexas Finance hitting a remarkable landmark in a presale – you have your news a week cannot afford to lose.

Bitcoin price hit $62K after Fed's first rate cut in 4 years since it promotes borrowing and spending. But what's next for BTC? Rally? Crash?

After the September 18 FOMC meeting, the Fed cut interest rates for the first time in four years. As a result of the 50 basis point rate cut, Bitcoin price hit $62,000 in the late New York session. Let’s understand why this happened.