The speech text of FED Chairman Jerome Powell has been published! What did he say about interest rate cuts? - Harsh words came from Donald Trump to Powell!

The FED kept interest rates steady last week in line with expectations. FED Chairman Jerome Powell stated in his announcement that he would move cautiously regarding interest rate cuts, citing concerns about tariffs.

After the interest rate decision, developments between the US and Iran negatively affected Bitcoin (BTC) and altcoins, while a ceasefire agreement between Iran and Israel revitalized the markets.

While the ceasefire between Iran and Israel remains a hot topic, all eyes were on Fed Chairman Jerome Powell's speech.

What Time is the Speech of Fed Chairman Jerome Powell?

At this point FED Chairman Jerome Powell will present the "Six-Month Monetary Policy Report" to Congress today and tomorrow.

The FED Chairman will give a presentation to the House Financial Services Committee today at 5:00 PM Turkish time and will answer questions from Committee members.

While all attention has turned to Powell's speech, the speech text was published in advance.

According to the published text, the FED chairman is preparing to say to Congress that tariffs could lead to temporary price increases, but that the FED is focused on preventing these from turning into persistent inflation.

Powell reiterated in his speech text that while he did not provide a signal for a rate cut in July, it is necessary to be patient for cuts and wait for more inflation and labor data.

At this point, Powell, reiterating that the FED is focused on employment and inflation in an uncertain environment, will state that the economy is stable, unemployment is low, inflation has decreased, but it remains slightly above the 2% target.

"Despite increasing uncertainty, the economy is solid.

The unemployment rate continues to remain low and the labor market is at or near maximum employment. Inflation has significantly decreased but is hovering slightly above our long-term 2% target.

The increasing tariff uncertainty is likely to raise inflation and negatively impact economic activity.

The Fed's obligation is to keep inflation expectations stable, preventing a one-time increase in price levels from turning into a persistent inflation problem.

I won't touch interest rates until there is more clarity in trade.

Donald Trump Targets Powell Again!

While Powell's speech is awaited in the markets, U.S. President Donald Trump targeted Powell again.

Trump, while harshly criticizing Powell's interest rate policies, emphasized that interest rate rebates are necessary by arguing that the economy is in good shape.

Trump, who stated that he expects Congress to take action on this matter, argued that interest rates should be at least 2 to 3 points lower. At this point, Trump noted that the U.S. would have saved 800 billion dollars a year in this way.

Trump reiterated the stupid remark about Powell:

"Powell will explain today, among other topics, why they did not make a rate cut.

In Europe, there have been 10 rebates, while we have zero. There is no inflation, the economy is doing quite well. We should be at least two to three points lower.

I hope Congress really goes after this very stupid and stubborn person. Because we will pay the price for his incompetence in the coming years.

FED members Michelle Bowman and Christopher Waller also stated that they supported a rate cut in July.

*It is not investment advice.

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