📊 The crypto market seems to be already weakly reacting to the tightening of the Fed's position

Yesterday, Fed Chairman Jerome Powell spoke at The Economic Club in Washington, where he made several statements regarding the future monetary policy of the regulator. He said the strong labor market shows that it will take longer and higher interest rates than previously expected by investors.

He added that inflation began to decline due to lower energy prices, and there is no disinflation in the service sector yet, it is observed only in the goods sector. In the housing market, disinflation is expected in the second half of the year.

📈 If the labor market does not weaken, the Fed will have to raise rates even more. The 2% inflation target will not be reached until at least 2024.

Bitcoin reacted to Powell's speech, but rather restrained, especially when compared with previous similar events. Altcoins have started to grow at all.