Fed Chairman Powell hinted at cutting down the whales in July.

On July 1, Fed Chairman Jerome Powell spoke at the ECB Forum, stating that it is too early to consider cutting down the whales on interest rates in July and that any decision will depend on economic data. He emphasized the current context of instability due to protectionist trade policies, warning that this could affect vulnerable economies like South Korea. Powell also mentioned that Italy's new 26% tax could slow GDP growth. Previously, former President Trump called Powell an "idiot" for maintaining high-interest rates, arguing that this harms America's economy. Cryptocurrency investors are closely following signals from the Fed, as expectations of cutting down the whales on interest rates could provide bullish momentum for the market. Although Powell maintains a cautious stance, the crypto market still reacts positively.