Well, it looks like Satoshi’s true intent behind Bitcoin — you know, having us all glued to our screens waiting for central bankers to speak from Jackson Hole, Wyoming — has finally come true.

Heading into the Jackson Hole Massacre Symposium, we knew Powell had a tough task at hand, in front of multiple audiences, addressing the past, present and future. Of course he had to figure out how to address how far off the mark he was in his speech last year, current monetary policy, and how to restore price stability by bringing demand and supply into better balance moving forward…a tall task to say the least.

Thankfully, we got at best one of three critical points addressed and a whole lot of nothing surrounding it other than some quotes from previous Fed Chairs Volcker and Greenspan (as if he couldn’t be more clear)…

Key Takeaways (so that you don’t have to waste 10 minutes of your life)…

• Long term price stability is the main concern of this Fed

• We (the US) should expect a sustained low growth environment and a softer labour market

• The decision in September will be data driven

• They will take forceful steps to moderate demand and they will keep at it until they’re confident the job is done

Well, the trap that Powell is in just got even smaller…see ya in September!