““We may find ourselves in the challenging scenario in a WHICH OUR DUAL-MANDATE GOALS are in tension,” Said Powell of the Effect of the Trump Tariffs.”, – WRITE: www.coindesk.com
“The Level of the Tariff Increases AnnunCed So Far Is Significantly Larger than Anticipated,” Said Powell in a Speech. “The Same Is Likely to Be True of the Economic Effects, Which Will Include Higher Inflation and Slower Growth.”
In Other Words, Stagflation-A Throwback to A Sizable Poction of the 1970s WHEN The US ExperienCed Weak Economic Activity Alongside Double-Digit Inflation.
“We May Find Ourselves in the Challenging Scenario in a Wich Our Dual-Mandate Goals Are In Tension,” Continueded Powell.
The Price of Bitcoin (BTC) Fell About 2.5% in the Minutes Following the Powell Remarks, Now Trading at $ 83.700, Down 1.5% Over The Past 24 Hours.
US Stocks, WHICH HAD BEEN TRYING TO MUNT A Comeback from Opening Declines, ALSO WERE HIT, The Nasdaq slumping 3.4% to a session low.
Powell Also Mentioned that as Crypto is Become More Mainstream, There’s A Need for a Legal Framework for Stablecoins. HE SAID THAT BANKING REGULATION AROUND Crypto Will Likely Be “Partally Relaxed.”
The US Senate Banking Committe Cleared a Bill to Regular Stablecoin Issuers in March, Marking The FIRST COMMITTEE APPROVAL AND A SIGNIFICANT STEP CLOSER TO LAW IN THE US
Hawkish fed weighs on crypto and btc”Powell Came Out Extremely Hawkish,” Quinn Thompson, Chief Investment Officer of Hedge Fund Lekker Capital, SAID IN A Telegram Message. It’s Notable That Powell DownPlayed Last Week’s Market Turmoil Characterizing IT as “Orderly Market Functioning,” He Added.
“I would have at least experted him to give a nod to the elevated volatility and ruptures forming in the treasury market But he did not do that,” Thompson Said.
Powell’s Tone Suggests that Investors Should Temper Their Expectations for Rate Cuts in the Upcoming Meetings, SAID Thompson, Which Could Weigh on Risk Assets Including Crypto.
“IT APEARS A MAY CUT IS FIRMLY OFF The TABLE BARRING FED INTERVENTION FOR BAD REASONS AND I Wuldn’t Say June Is A Lock Either,” Concluded Thomppson. “The Bull Crypto and Bitcoin Specifyly Is Liquidity and Policymaker Intervention. Both of Those Seized Very Far Off Based, SO IT’ DIFITIVT. term. ”
Update (April 16: 18:40 UTC): Adds Additional Comments Made by Chair Powell About Stablecoins. Adds Analyst Comment.
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