Fed President Powell began his speech, there was a sudden drop in the bitcoin (BTC) exchange rate!

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Fed Chairman Powell comments on the US economy live on air.

Here are the important words of Fed Chairman Jerome Powell at this point:

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Cutting interest rates too early will have devastating consequences.

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Waiting too long could mean causing unnecessary damage to the economy and the labor market.

My first thought on PCE met expectations; it's good to see it meeting expectations.

We want to be more confident before we cut interest rates.

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If we see unexpected weakness in the labor market, it could trigger a policy response.

We have a chance to lower inflation without hurting the economy.

The likelihood of a recession right now is low.

You've seen really significant progress in fighting inflation.

The economy is not suffering from interest rates at this level.

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