FED Chairman Jerome Powell is speaking and making important statements. With the Fed President’s statements, the price of Bitcoin and gold suddenly fell. Details Cryptocoin. com we have compiled for you…

FED Chairman is speaking! Here are the important details

The US Federal Reserve kept interest rates constant in the range of 0 – 0.25 percent. After the decision, FED Chairman Jerome Powell made a statement and in his speech the following important details draw attention:

  • He stated that it would be appropriate for the reduction in asset purchases to end in the middle of 2022.
  • On interest rate hike, “There is still a long way to go for a rate hike. ” said.
  • He also emphasized that the decision to reduce asset purchases could be taken at the FOMC meeting in November.
  • Central bank cryptocurrency report will be published soon. He said the Fed is aggressively considering whether to issue a digital currency.
  • k emphasized that the growth is expected to continue strongly in the second half.

Gold and Bitcoin fell hard after the statements

Markets fell after Fed Chairman Jerome Powell’s speeches. The price of gold fell from $1,786 to $1,776. Bitcoin price slipped from $44,000 to $43,000.

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Michael Lewis


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