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Welcome to Big Boy crypto home of the by the largest and greatest crypto Community in all the interwebs my name Is Ben today we're gonna be talking About Jerome Powell and what is Happening tomorrow and the rest of this Week that could set the course for the Rest of the market are we going back to Lower prices like something uh is the Stock market going to crash uh are we Going to feel uh you know a recession or A Great Depression what is going to Happen well it depends on what happens Tomorrow and later on this week so uh Later on this week We have the jobs report which is very Important because that jobs are poor is Going to go a long way towards uh Determining where we go forward what we Want to see is we want to see Unemployment actually go up now there's Been a lot of big businesses I've been Laying people off but that's what we Want to see when it comes to the market Now do we want to see people getting Laid off absolutely not we once the Unemployment go up obviously not but in How it relates to the market that's a Good thing we actually want that because That means that the effects of uh the Pullback on the inflation are being felt Which means the vet is doing a good job Which means they can not think about Gigantic races again in the future
So what is what does all this mean for Tomorrow now I'm sorry Trying to keep that thing from wobbling In a Lambo it's about impossible but the Fact is tomorrow Jerome Powell is going To uh the Senate he's gonna be talking To the Senate bank finance committee About the direction of the FED now here Here's what's interesting Because the jobs report is out just a Few days later the jobs report in my Opinion is going to actually have a Bigger effect on the direction of the FED than actually Um than actually the meeting tomorrow Because most likely what Jerome Powell Is going to try to do is drum pal is Going to try to position himself frame Himself as being able to move either Direction he doesn't want to reveal his Cards now if Congress you know really Puts it on him and or excuse me if the Senate really puts it on him and maybe Like demands for an answer then maybe He'll have to say something but he's a Politician basically and he knows what To say he knows how to to word things I Don't think we're going to get Definitive answers tomorrow however I do Expect a lot of volatility on this Market tomorrow as people are going to Anticipate the worst Now the word is is that there have been Uh you know some of the the FED board uh
Governor of uh San Francisco of that uh Fed uh location was talking about Um over the last week uh about how he Wants a more hawkish approach and they Reiterated that they wanted to see two Percent inflation now here's where Things You're late to Bullet if you know what I Mean because the deal is is that yes Inflation itself I think last month was What like eight six percent maybe eight I don't remember what it was I can't Remember from month to month but the Long and the short of it was Is that in fact what occurs is there's Three different types of inflations that People are measuring And they didn't say they had to get two Percent on all of those Right now Goods so retail like what you go to the Grocery store to get you know some you Go maybe go get some milk maybe you like Flavored water with hydration package so Maybe you could get some Pro pools Um you know who knows maybe even like Some some alien cereal The little marshmallows so whatever it Is you go by in the store The numbers say the inflation is Plummeting they actually have the goods Number around four percent right now now When you look at housing housing is Skyrocketing anything related to housing
That is not housing market itself it's Anything related to housing involving Rent and things like that now that is Skyrocketing however it's like kind of Think of it as a lagging indicator They're saying that basically the long And the short of it is that uh this even Though we're seeing it Skyrocket it's Actually the pendulum historically in The other direction and services Are remaining high now to me I'm just Speculating here I think that one of the Reasons why Services may be high is Because people are still having Disposable income right now and and People are having to uh Services can Kind of pick and choose how much they Want to charge for things because it's Kind of like intangible right there's no Actual uh you know like in a haircut Like you got some costs if you're a hair Stylist you rinse your booth you got Your uh your your equipment Um however you're able to charge as much As you want for that haircut unless You're in a franchise place Um and so if people are still having Disposable income then it would make Sense why why would these people want to What why would these people want to Lower their price when people are still Able to pay it so that's that's an Interesting thought there Um for you guys because like it's like
Almost anything else like if you if Somebody asks you like how much you want To pay for something and you say three Hundred dollars And they were thinking a hundred dollars They're gonna say sure I'm just gonna Take it why not you're handing them the Money so Services could be something Like that that's happening right now but Overall uh we are seeing inflation on Goods come down now is inflation on Goods enough To where idiots two percent the FED Turns on the money printer again that's Kind of what I think we could see Um because it's been dropping very There's a chance that the numbers next Month CPI numbers or the specific Goods Uh inflation number there's a chance it Could actually be a two percent next Month according to the current numbers So that's a really important one to Watch but I think the overall Dropout is Going to decide what he wants to do After this jobs report so watch him Tomorrow to play Both Sides he's going To say bullish stuff he's going to say Bearish stuff and I think for that Reason we will see a lot of volatility Um on the market tomorrow but it doesn't Necessarily mean that we are going to See Um you know a plan revealed for the long Term here uh from Jerome Howe so I think
Those are a few things to watch uh and We will definitely be covering this Um tomorrow And also for you guys that asked about Crucial crypto If you if you go to crucial crypto.io And sign up now I know we talked about This morning there was an issue if you Use The promo code bit Squad it should uh Give you a free month a free month of The newsletter they'll be out weekly so You guys go check out crucial crypto.io Uh new newsletter we're working on um And it's going to be it's gonna be its Own brand so we're going to talk about On the channel every single day uh or Anything like that but definitely Something for you guys that want some uh Low-cap altcoin picks Rams staff picks In there we're gonna break down the Market what's going on or give you guys Things you should look at things we can Get more in detail with with analytics Um on chain indicators and things like That so make sure to check out uh Crucialcrypto.io Hey guys that's all I Got be blessed way out
