Market Awaits Fed Chair Powell's Remarks Amid Economic Concerns

According to BlockBeats, market participants are closely monitoring U.S. Federal Reserve Chair Powell's upcoming speech, eager to understand the Fed's stance on potential recession issues. GSR research analyst Carlos Guzman highlighted concerns that the announcement of tariff suspension could lead to significant economic contraction, with markets previously anticipating four interest rate cuts this year. Following U.S. President Donald Trump's announcement last week to suspend most tariffs for 90 days, recession expectations have decreased, and the anticipation of interest rate cuts has weakened. However, Guzman noted that the market still expects more rate cuts than before Trump's tariff suspension announcement. He added that if the global economic outlook appears bleak, the Fed might implement additional stimulus measures. This could be a medium-term positive for cryptocurrencies, although recent volatility may limit short-term impacts.