Thread by @dkcrypto13

My read on #Fed press conference is broadly Bullish risky assets including #bitcoin. Points JP made that leads me to thsi conclusion:
- Unemployment rate understates problem as labor participation rate is lower
- Economy is 9.5m jobs below pre pandemic
...

- we will aim for inflation higher than 2% for some time
- We are looking for broad based and inclusive labor market improvement
- We won't taper asset purchases before economy has made "substantial progress towards max employment and inflation expectation firmly at 2%" ...

- We want to give notice WELL in advance of actual tapering of the asset purchases (meaning they won't just reduce them next meeting out of the blue)
- Talked down moving of rate projections of some slightly upwards in 2023 by reaffiriming stance on asset purchases and rates...

- service spending is way down still, so inflation in assets isn't everything

The takeaway is very much that they (the fed) seems to want to see the labor market fully restored to pre pandemic before they worry about inflation. So this reads Bullish. Very Bullish perhaps...

None of this is advice. It seems $BTC and all other risky assets have been given another shot in the arm here. It has to be abundantly clear to everyone though: if this press conference had gone differently it'd been ugly. We are closer to the end than the beginning of the Bull.

Unless any surprises come out though, I think this looks very reassuring and like a full out win for markets tbh. May be wrong of course.