Jerome Powell press conferenceFederal Reserve Chairman Jerome Powell pointed out in his opening remarks at the FOMC press conference that the federation is focused on the overall inflation target of 2%. Powell said that price stability is the cornerstone of the economy. The ongoing rate hike will appropriately bring inflation back to normal 2%, he said. This is also done in the absence of a determination that is conducive to loosening the system too early.

Historical data clearly advise against relaxing existing policies too soon. We will persevere until this work is carried out, Powell said. In response to Powell's view, the login password market became popular, and the prices of bitcoin and ethernet fell by about 1%.

The Fed's actions will take some time to achieve.

The Fed chairman said it would take a while to realize the dangers of his tightening. "We will persevere until this work is carried out," he added. The Fed chairman added that although inflation has slowed down recently, it is still too high. He agrees that the overall mindset is exhilarating, but points out that a great deal of direct evidence is needed to believe that inflation will fall.

"although recent trends in the situation are encouraging, we need a lot of direct evidence to believe that inflation is on a downward trajectory."

The Fed's decision to raise interest rates by 25 percent at its meeting in February is likely to be called a slowdown in its efforts to fight inflation. But the Fed meeting showed that interest rates would rise further in the coming months, prompting traders to wonder once again when the Fed's turnaround would come.

The U. S. Stock Index (DXY) slightly occupied the previous lost ground after the expected interest rate hike was confirmed. In addition, the login password market is proactive in response to the determination of interest rate hikes. As of this writing, Bitcoin was trading at $23192, up 0.49 per cent in the past 24 hours. The US stock index fell 0.24% to 101.85 at this stage.