Chair Powell: "Don't Expect Fed to Intervene in the Market... Trump's Position Changes Daily"
Summary
- Chair Jerome Powell made it clear that the Fed has no plans to intervene in the market.
- Powell assessed that the market is currently digesting the uncertainties well.
- He added that market volatility due to hedge funds, leverage, and deleveraging may continue.
According to Reuters on the 16th (local time), Jerome Powell, the Chair of the Federal Reserve (Fed), stated, "Do not expect the Fed to intervene in the market," and mentioned, "President Trump's position is changing daily."
He responded to a question about the possibility of the Fed intervening in response to a stock market crash by saying, "My answer is 'No.' Despite facing numerous uncertainties, the market is currently digesting the situation well."
He continued, "It is still too early to predict what will happen in the market," and added, "People often make judgments and then look back a few months later to realize it was a wrong decision."
Additionally, he said, "Part of the current market turmoil stems from hedge funds, leverage, and deleveraging movements," and added, "In the short term, market volatility may continue."
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
