#PowellRemarks Federal Reserve Word
Jerome Powell, the Chair of the U.S. Federal Reserve, indicated a potential change in monetary policy, which could impact financial markets, including the cryptocurrency market. Here are some key points ¹:
- *Monetary Policy Change*: Powell indicated that the time has come to change monetary policy, which could mean a rate cut in September.
- *Impact on Cryptocurrencies*: This potential shift in monetary policy could have a positive effect on the cryptocurrency market, as a rate cut could increase market liquidity and boost demand for high-risk assets.
- *Rise in Cryptocurrency Prices*: Following Powell's statements, Bitcoin rose to nearly $104,000, boosting optimism for further increases.
- *Study of Issuing a Digital Currency*: The United States is working on studying the issuance of a digital currency, and Powell said: "We are actively working to assess the possibility of issuing a central bank digital currency."
- *Powell's Stance on Cryptocurrencies*: Powell is changing his stance on cryptocurrencies, having indicated unprecedented openness to digital currencies, stating: "We are not against innovation" ² ³.
*Impact of Powell's Decisions on Financial Markets:*
- *Negative Impact on the U.S. Dollar*: A rate cut could lead to a decline in the value of the U.S. dollar.
- *Positive Impact on the Stock Market*
