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# Powell Advocates Calm: “There’s No Need to Hurry”
Federal Reserve Chairman Jerome Powell gave a speech today at the U.S. Monetary Policy Forum in New York, emphasizing the necessity for the central bank to exercise caution given the existing economic instability.
Regarding cost of living, Powell pointed out that the cost of living rate has decreased noticeably from its mid-2022 high of over 7% to 2.5% in January. However, he warned that current data are still marginally higher than the Fed’s 2% aim.
He mentioned that income growth has decreased to more stable levels, and the equilibrium between labor marketplace demand and availability is getting better, which is lessening labor marketplace pressures on cost of living.
Powell also emphasized the robustness of the U.S. labor marketplace, observing that companies added 151,000 jobs in February, with an average monthly increase of 191,000 jobs since September. The percentage of unemployed workers increased marginally to 4.1% but has stayed within a tight range of 3.9% to 4.2% over the last year.
Powell repeated that the Federal Reserve is willing to keep interest rates at their present levels, adopt a “wait and see” strategy, and carefully examine the effects of recent policy adjustments and economic indicators.
“With income growth decreasing and labor availability and demand reaching a more favorable equilibrium, the labor marketplace is no longer a substantial source of cost of living pressure,” he stated.
He emphasized the significance of not overreacting to temporary changes and repeated the central bank’s dedication to carefully monitoring cost of living trends to guarantee they are in line with long-term objectives. “The route to sustainably restoring cost of living to our target is uneven, and we anticipate it will continue to be so,” Powell stated.
“We don’t have to hurry and are in a good position to await clearer indications,” he remarked. Toncoin (TON) Value Forecast for March 26th
He remarked that “Inflation could vary each month, and we will not excessively respond to one or two statistics that are greater or less than anticipated.”
## Financial Perspective and Commerce Strategy
Powell addressed current commerce strategies, involving the Trump administration’s declarations and subsequent postponements in implementing elevated import duties on commerce collaborators such as Mexico, Canada, and China.
These strategy modifications have prompted market instability and complicated the financial perspective. Powell underscored the necessity for lucidity in these domains before modifying financial strategy, asserting that the central bank is adequately equipped to await a more distinct financial perspective.
Considering these aspects, Powell signaled that the Federal Reserve will probably sustain its crucial interest percentages unaltered in the approaching months. Previously, the central bank had diminished the benchmark interest percentage by 100 basis points to a spectrum of 4.25% to 4.5% by the culmination of 2024 and upheld this strategy in January.
## Cryptocurrency Response
The cryptocurrency market responded with circumspect optimism to Powell’s statements. Investors appeared reassured by the Federal Reserve’s tolerant methodology, but apprehensions regarding prospective stagflation and Trump’s continuous cryptocurrency summit persisted.
Bitcoin is presently exchanging at $88,300.
