Fed chair comments on possible interest rate cut

On July 15, Fed Chair Jerome Powell spoke at the Economic Club of Washington. He emphasized that the Fed will not wait for inflation to reach the 2% target
"If you wait for the moment when inflation drops to 2%, it means you've waited too long, since policy tightening will continue to have further effect"

According to the Fed Chair, the dynamics of some Q2 2024 indicators inspire confidence that the regulator's measures had an effect
"That wasn't the case in Q1. However, the change in three indicators in Q2, including the data released last week, do add confidence," Powell emphasized

This refers to the change in the US Consumer Price Index (CPI). It showed that in June 2024 inflation in the country slowed, to which Bitcoin reacted with growth

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