The post All Eyes on Jackson Hole Meeting in Bitcoin! What Will FED Chairman Jerome Powell Speak? Here Are the Predictions and Expectations! appeared on BitcoinEthereumNews.com.

The most important event of this week for Bitcoin, cryptocurrencies and global markets will be the Jackson Hole meeting. The meeting, held every year in Jackson Hole, Wyoming, USA, is closely followed by the banking industry. The meeting, attended by representatives of central banks from developed and developing countries around the world, will be held between August 22-24 this year. The theme of this year’s Jackson Hole meeting will be ‘Reassessing the Effectiveness and Transmission of Monetary Policy.’ All Eyes Will Be on the FED Chairman’s Speech! Following the selling pressure and recession talk in money markets at the beginning of this month, statements from FED Chairman Jerome Powell will be followed with great attention. It is expected that the FED Chairman will make statements on interest rate cuts in his speech on August 23 at the Jackson Hole meeting, which is considered the “Davo of world central bankers”, and that the subject and rate of the interest rate cut will be clarified. The most important question to be answered at this year’s Jackson Hole will be how much the Fed will cut interest rates in September. At this point, Powell is expected to indicate that interest rates will be cut starting in September and to emphasize that the reductions will be “orderly.” Powell is also expected to ease expectations of a 50 basis point rate cut in September, while strengthening the case for 25 basis points. UBS economists said the following about Powell’s interest rate statements: “We expect Chairman Powell to make a case for an orderly withdrawal of monetary policy restrictiveness in his speech in Jackson Hole on Friday morning, August 23. By orderly, we mean a 25 basis point rate cut rather than a 50 basis point cut. At this point, we expect three 25 basis point…

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Filed under: News - @ August 19, 2024 12:18 pm