#PowellRemarks Federal Reserve Statement
Jerome Powell, the Chairman of the U.S. Federal Reserve, signaled a potential change in monetary policy, which could impact financial markets, including the cryptocurrency market. Here are some key points ¹:
- *Change in Monetary Policy*: Powell indicated that the time has come for a change in monetary policy, which may mean a reduction in interest rates in September.
- *Impact on Cryptocurrencies*: This potential shift in monetary policy could have a positive effect on the cryptocurrency market, as lowering interest rates may lead to increased liquidity in the market and higher demand for high-risk assets.
- *Rise in Cryptocurrency Prices*: Following Powell's statements, Bitcoin surged to nearly $104,000, boosting optimism about further increases.
