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The US Federal Reserve (Fed) lowered the benchmark interest rate by 0.25%p at the Federal Open Market Committee (FOMC) meeting at 4 am (Korean time). This is in line with market expectations and the third consecutive cut since the 0.5%p cut in September. As a result, US interest rates have fallen to 4.25%-4.50%.
2. Powell "Inflation is approaching the 2% target, moving as planned"
Jerome Powell, Chairman of the US Federal Reserve, said in the FOMC press conference that "inflation figures are approaching the 2% target, and this means that the US economy is moving in line with the Fed's outlook." He added that "the direction of medium-term interest rates will be in line with the forecast, and the Fed's policy stance and the scale of future rate cuts will be eased, and inflation will eventually reach 2%."
3. Powell "No concerns about recession", "Low possibility of rate hikes next year"
Jerome Powell, Chairman of the US Federal Reserve, emphasized in the FOMC press conference that "despite the majority of forecasts predicting a slowdown in US growth, the current US economy is very favorable, so the possibility of a recession is low." He also said that "there are currently no geopolitical risks that could immediately affect the US, so the possibility of a rate hike next year is low."
4. Powell "Owning BTC is not possible from a policy perspective"
In response to a question about the US government's strategic reserve of Bitcoin at the FOMC press conference, Jerome Powell, Chairman of the US Federal Reserve, said "This is currently not possible under the law, and the Fed does not have the legal authority for this. The Congress is responsible for establishing the necessary laws and systems for this."
Choi Joo-hoon joohoon@
