During the FED meeting, Powell said that current numbers are still too high and that the policy has to continue for now. Here’s what that means for Crypto moving forward:

Today we had the annual FED policy retreat to discuss where they want to go next with their policy and it was especially anticipated this year as their policy is most likely the primary factor (except for black swan) for the stock markets and crypto right now. Jerome Powell made quite hawkish statements during that meeting showing that the current inflation decreases are not enough for the FED and that they would continue their policies.

So that was expected right? Obviously they still have to continue their policy of inflation is still above 8%. Yeah, but markets have been trying to see how important they are to the FED. Having the question: Would the FED retreat if they see how artificially pumped markets were and how weak they are now?

And the answer has been no. Seems the the FED has yet its priority and a high inflation for them is way worse publicity than stock markets going down. For Crypto it means that we will continue to be under pressure for a while and I would not expect to pull a new ATH with this FED policy eventhough we could have relief especially with the upcoming Midterms.