Jerome Powell's Speech: What It Means for Crypto
Federal Reserve Chair Jerome Powell is set to speak today at 1:30 PM EDT (10:30 PM GMT+3) at the Economic Club of Chicago. This comes amid economic uncertainty due to recent U.S. tariff policies, which have impacted global markets and led to a decline in cryptocurrency prices.
In his last speech on April 4, Powell warned that the ongoing tariff war could lead to higher inflation and slower economic growth. Although the U.S. has paused new tariffs for 90 days, concerns remain about potential inflationary pressures.
Investors are eager to hear Powell's insights on inflation and employment. The crypto market is particularly sensitive to potential changes in interest rates, as higher rates can reduce investment in riskier assets like cryptocurrencies.
Market participants are watching closely for any indications of future Federal Reserve actions. Depending on Powell's statements, we could see increased volatility in crypto prices.