Sadly, I don’t think it’s what Powell says, it’s what they do. And what’s happening in the broader global liquidity environment. If people have less money and need to sell assets to pay bills and survive, unfortunately BTC is out on the edge of the risk curve and one of the first to go. It’s no different than golf memberships, spa days etc.

I think the balance the Fed is trying to keep us between deflation and inflation as both are no bueno for them. Deflation causes debt cost to rise, inflation causes asset prices to rise