Andy Yeeannounced“Many find it counterintuitive that the Fed would want to push up inflation. However, inflation that is persistently too low can pose serious risks to the economy.” Powell announced.
Yee took a verbal jab at Powell while borrowing from Winston Churchill by saying “never in the history of mankind was so much stolen from so many by so few.”
Shortly after Powell’s speech, the (DXY) slumped in reaction to market sentiments.
Raoul Pal, CEO of Real Vision, DXY’s decline could be favourable for Bitcoin and Gold, given the Fed’s “zero tolerance for inflation”.