Bitcoin bulls plan to flip $23K to support by aiming to win this week’s $1B options expiry
That being said, Powell said they still expect inflation to continue rising in the services sector for some time and to be prepared for “ongoing rate rises.” “We see ourselves as having more persistent inflation in that [services] sector, which will take longer to get down, and we have to complete the job. That’s what we’re here for.”
Powell noted that “ongoing rate rises” would still be appropriate for the economy as the Federal Reserve attempts to bring inflation back to its 2% target level. Fed Reserve hikes by 0.25%. Its 8th hike. The Fed did not indicate its at the end of its hiking cycle. But, Fed chair said in his speech he sees inflation coming down soon. 50% of inflation is in “disinflationary” phase. Markets react positively.
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