#PowellRemarks Federal Reserve Statement
Jerome Powell, the Chairman of the Federal Reserve, indicated a potential change in monetary policy, which could affect financial markets, including the cryptocurrency market. Here are some key points ¹:
- *Change in Monetary Policy*: Powell indicated that the time has come to change monetary policy, which may mean a rate cut in September.
- *Impact on Cryptocurrencies*: This potential shift in monetary policy could have a positive impact on the cryptocurrency market, as a rate cut could increase liquidity in the market and boost demand for high-risk assets.
- *Rise in Cryptocurrency Prices*: Following Powell's statements, Bitcoin surged to nearly $104,000, boosting optimism for further increases.
- *Study of Issuing a Digital Currency*: The United States is studying the issuance of a digital currency, and Powell stated, "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, indicating 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 US Dollar*: A rate cut could lead to a decline in the value of the US dollar.
- *Positive Impact on the Stock Market
