The post Focus on Powell’s Testimony, U.S. Core PCE Data as Trump’s Tariff Deadline Looms appeared on BitcoinEthereumNews.com.

The calm in the oil market following the U.S. airstrike on Iran’s nuclear sites has dashed the forecasts of bears who predicted a slide in the price of bitcoin . With this in mind, traders can look to the week’s major events that could affect markets. Federal Reserve Chairman Jerome Powell’s semi-annual monetary policy testimony to Congress is likely to be the main event. Powell will probably be grilled by Republican party members for not cutting interest rates and “costing the country hundreds of billions of dollars,” as President Donald Trump has repeatedly said in his Truth Social posts. Powell, however, is expected to reiterate the Fed’s independence and the data-dependent path forward for rates. Traders will closely watch Powell’s take on the interest-rate trajectory, given the backdrop of Trump-appointed Fed Governor Christopher Waller’s recent comments that interest rates could be reduced in July. “With the market’s pricing of future inflation well anchored, early cracks emerging in the labor market and housing activity evidently weak, there are reasons for the Fed to consider adopting a dovish shift in the July FOMC meeting and guiding towards a cut in September — a path already priced into the U.S. swaps market,” Chris Weston, head of research at Pepperstone, said on X. Dovish hints could prompt more risk-taking in financial markets, boding well for BTC, which has held mainly above $100,000 throughout the recent escalation of conflict in the Middle East. Markets expect the Fed to deliver two 25 basis-point cuts this year, but the take is not unanimous/ “We continue to think that clarity on the inflation story — whether tariffs are a one-off price shock or if they prompt more sustained inflation pressures — may not come before the December FOMC meeting, meaning we will see just one rate cut this…

---

Filed under: News - @ June 23, 2025 10:28 am