"Powell's Warning Sends Bitcoin Dipping, But Fed's Actions Remain Uncertain"
TL;DR Summary
Bitcoin dipped below $26,000 after US Federal Reserve Chair Jerome Powell stated that the Fed is prepared to raise interest rates further if appropriate, in an effort to bring inflation down to the central bank's target of 2%. Powell noted that while inflation has declined from its peak, it remains too high, and the Fed intends to hold policy at a restrictive level until confident that inflation is moving sustainably down. Bitcoin has since rebounded above $26,000 and is currently trading at $26,078.
- Bitcoin Dips As U.S. Fed Chair Jerome Powell Says They Are ‘Prepared To Raise Rates Further if Appropriate’ The Daily Hodl
- Despite What Powell Says, the Fed Is Likely Done The Wall Street Journal
- Powell Has Bond Traders Right Where He Wants Them: Full of Doubt Bloomberg
- Powell's Jackson Hole Speech Will Likely 'Impact' Crypto Markets: Strategist CoinDesk
- Powell Feels the Heat But Doesn't Need the Extinguisher Bloomberg
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