Bitcoin surged above $62,000 after Fed Chairman Jerome Powell delivered an important speech on US credit policy. Powell delivered the strongest signals ever for the Federal Reserve (FRS):
In his speech, Powell emphasized that the time has come to change US credit policy. He emphasized the risk of rising inflation and said that the rate has exceeded 2%. Powell does not plan to apply excessive "cooling" policies to the labor market, instead he pledged to support the labor market comprehensively.
In addition, Powell also pointed out that the Central Bank intends to lower interest rates, an important piece of information that could significantly affect the market and assets such as Bitcoin. In response to these statements, Bitcoin broke the $62,000 mark, showing a positive reaction from the market to Powell's remarks.
by: Latest Crypto News
photo: WSi.com
