Key points from Powell's speech on April 16: The impact of tariffs may be more lasting, and cryptocurrencies are gradually becoming mainstream
ChainCatcher news, summary of key points from Powell's speech on April 16:
Interest Rate Outlook: High uncertainty; currently in a good position, waiting for clearer signals before considering policy adjustments.
Economic Outlook: The U.S. economy remains "robust," with strong imports in the first quarter causing a drag, GDP growth may slow compared to last year.
Inflation Outlook: The impact of tariffs may be more persistent, expected to push up inflation; March PCE year-on-year is expected to be 2.3%, core PCE at 2.6%.
Labor Market: Overall remains balanced; reduced funding for research is expected to have a significant impact on employment; unemployment rate is expected to rise.
Tariff Impact: The extent of tariff increases so far has far exceeded expectations; policies are still being adjusted, and the impact remains highly uncertain.
Cryptocurrency: Gradually becoming mainstream, a legal framework for stablecoins needs to be established; bank regulation is expected to see "partial easing."
Independence: The independence of the Federal Reserve is legally granted; the Federal Reserve will not be influenced by political pressure.
Others: Don't expect the Federal Reserve to step in to rescue the market; if a dollar shortage occurs, the Federal Reserve is prepared to provide liquidity to global central banks.
Market Reaction: After a decline, the U.S. dollar index rebounded and then fell again; U.S. stocks continued to decline, with the Nasdaq down nearly 4%, and gold slightly climbed.
