Coingape 14 Nov 2024

Fed Chair Jerome Powell Speech: No Urgency To Cut Interest Rate 📉

Jerome Powell USA Bitcoin

Bitcoin (BTC) is facing challenges as Federal Reserve Chair Jerome Powell signals there is no urgency to further reduce interest rates. This announcement follows the recent US inflation data and the Fed's second rate cut of the year. Powell's speech has had a noticeable impact on Bitcoin, leading to uncertainty in the market.

Despite expectations of potential rate cuts, the Fed's current stance suggests stability in interest rates, which plays a significant role in shaping investor sentiment in the cryptocurrency market. Powell's caution reflects the Fed's measured approach amid economic indicators.

Bitcoin's response to such fiscal policies underscores its sensitivity to macroeconomic factors. As markets navigate these developments, stakeholders remain vigilant about the Fed's future policy decisions and their implications for both traditional and crypto markets.

Source: coingape.com ↗

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