Crypto Leader Lark Davis Says Jerome Powell Just Pulled the Ultimate HODL Before Latest FOMC Meeting

• Crypto leader Lark Davis says Jerome Powell just pulled the ultimate HODL.
• Powell’s speech before latest FOMC meeting garners mixed reactions.
• Could the Fed announce rate cuts, or will the next chair deliver?

It is no secret to the crypto community that geo-political and social-economical activities around the world have a high probability of influencing crypto market prices. One of the most influential events that affects the crypto market is the FOMC meeting from the Fed. AS the latest FOMC meeting approaches, crypto leader Lark Davis says Jerome Powell just pulled the ultimate HOLD.

Crypto Leader Lark Davis Says Jerome Powell Just Pulled the Ultimate HODL

The FOMC meetings are a highly awaited event for financial market traders. This is because the Fed tends to evaluate multiple factors, including employment rate, and more, to determine if rate cuts are needed. Since Trump took office, the President has been putting immense pressure on the current Fed Chair, Jerome Powell, to cut rates. In fact, he hoped Powell would cut rates at 3 times soon after he took office. 

Instead, Powell announced 2 rate cuts, highly spaced out, to which Trump was furious about, stating that Powell’s moves were too late, thereby further putting the USA in debt, instead of fast rate cuts saving the country billions. Powell on the other hand said that it was important to cut rates steadily and only if needed. Even now, the crypto community hopes for rate cut announcements to propel crypto prices. 

However, much like most of the crypto market action in the latest bull cycle, the times continue to disappoint. This time, crypto prices are expected to sink to even lower prices, allowing these assets to set new price bottoms, meaning no rate cuts are expected, unless Powell pulls off a final surprise, which is in the realm of possibility as this could be his last FOMC meeting as chair. 

No Rate Cut After Latest FOMC Meeting? 

To elaborate, Powell is expected to be replaced soon by a pro-Trump candidate, if this were to happen then rate cut announcements could be likely once Powell steps down. Although, a surprising turn of events could occur if Powell went on to make rate cut announcements during the latest FOMC meeting. In fact, Lark Davis states that Powell just pulled the ultimate HODL move. 

As we can see from the post above, Davis highlights a CNBC clip where Powell said that he is stepping down as Chair but keeping his Governor seat, saying he will "leave when it is appropriate to do so." Based on these lines, Davis concludes that Powell is basically playing goalie for the Fed’s independence, ensuring the institutional architecture doesn’t give in to political pressure.