{"id":83603,"date":"2023-08-25T19:08:06","date_gmt":"2023-08-25T16:08:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=83603"},"modified":"2025-09-12T12:05:10","modified_gmt":"2025-09-12T09:05:10","slug":"bitcoin-swings-on-fed-chairs-remarks","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bitcoin-swings-on-fed-chairs-remarks\/","title":{"rendered":"Bitcoin swings on Fed chair’s remarks"},"content":{"rendered":"

Chair Jerome Powell of the U.S. Federal Reserve (the Fed) confirmed<\/a> the central bank’s readiness to continue raising the policy rate if necessary.<\/p>\n

Speaking at the annual symposium of the FRB Kansas City in Jackson Hole, the official noted that the inflation target remains at 2%. Despite positive momentum<\/a> in recent months, progress toward the target is proceeding more slowly than planned.<\/p>\n

\n

“The Fed will act cautiously, deciding whether to resume raising rates or keeping them at the current level,” Powell said.<\/p>\n<\/blockquote>\n

Against the backdrop of the Fed chair’s remarks, Bitcoin trading volume surged sharply. The cryptocurrency’s price reacted with short-term volatility. Prices fell to below $25,900. By the time of writing, the price of the digital asset had recovered to around $26,000.<\/p>\n

\"Bitcoin
15-minute BTC\/USD chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

Earlier, Grayscale Investments’ managing director of research Zak Pandl linked<\/a> Bitcoin’s prospects to a ‘soft landing’ for the US economy. According to the expert, a scenario of sustainable growth in GDP<\/span> and low inflation would help risk assets, including cryptocurrencies.<\/p>\n

However, Powell said that above-trend economic growth would justify a rate hike.<\/p>\n

The decision on the policy rate will be taken on September 20. According to CME FedWatch data, about 20% of market participants expect a rate hike to the 5.5%-5.75% range. The Fed’s previous level was set in July. <\/p>\n

\"Bitcoin
Data: CME FedWatch.<\/figcaption><\/figure>\n

In mid-August, Bitcoin’s price reacted negatively to the publication of the Fed’s meeting minutes. The regulator signalled further tightening of policy.<\/p>\n","protected":false},"excerpt":{"rendered":"

Chair Jerome Powell confirmed the Fed’s readiness to continue raising the policy rate if necessary.<\/p>\n","protected":false},"author":1,"featured_media":83604,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[1249,1440,1224],"class_list":["post-83603","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-federal-reserve-system","tag-jerome-powell","tag-macroeconomics"],"aioseo_notices":[],"amp_enabled":true,"views":"16","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83603","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=83603"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83603\/revisions"}],"predecessor-version":[{"id":83605,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/83603\/revisions\/83605"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/83604"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=83603"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=83603"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=83603"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}