Analysis: Federal Reserve Chairperson Powell's speech has no impact on bitcoin price movements
2024-07-09 15:30:51
The American League Reserve Chairperson Powell today said that it will not issue about the futuredesk3cryptocurrencydesktopCrypto News
Federal Reserve Chairperson Jerome Powell said today that he will not send a signal about the time of future policy action. Rising inflation is not the only risk facing the economy, followed by a slight increase in the possibility of interest rate cuts in September. Powell's testimony did not have a major impact on the price of Bitcoin (BTC). After a brief rally, BTC quickly gave up its gains. It is currently slightly above $57,000 and has risen slightly in the past 24 hours.
The latest inflation data will also be released this Thursday. The U.S. Consumer Price Index (CPI) report for June is expected to show that prices rose by 0.1% last month, and core prices (excluding food and energy) rose by 0.2%. On an annualized basis, headline inflation is expected to reach 3.1%, and core inflation is expected to reach 3.4%. A surprise in either direction could quickly change the likelihood of a September rate cut.
The latest inflation data will also be released this Thursday. The U.S. Consumer Price Index (CPI) report for June is expected to show that prices rose by 0.1% last month, and core prices (excluding food and energy) rose by 0.2%. On an annualized basis, headline inflation is expected to reach 3.1%, and core inflation is expected to reach 3.4%. A surprise in either direction could quickly change the likelihood of a September rate cut.
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