Federal Reserve Chair’s Remarks Might Have Implications For Crypto Market

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Federal Reserve Chair Jerome Powell’s recent remarks might have implications for the crypto market. On Monday, Powell stated that the central bank will not wait until inflation reaches 2% before cutting interest rates. According to Powell, the Fed seeks ‘greater confidence’ that inflation will return to 2%. Powell stated at the opening of his address that he did not aim to provide any signals about when the Fed would begin to lower interest rates. The central bank will hold its next policy meeting at the end of July. The crypto market is posting a mixed reaction amid profit-taking after a bullish start to the week.