FOMC Chairman Jerome Powell speaks. Jerome Powell said on Friday that the US Federal Reserve’s tight commitment to price stability bolsters confidence in the dollar. Jerome Powell stated in his speech that the Fed is seriously focused on reducing inflation to 2 percent. After these statements, the dollar index rose. Gold and BTC prices, on the other hand, started to decline.
Fed Chairman Jerome Powell speaks: Gold and Bitcoin affected!
Fed Chairman Jerome Powell went in front of the cameras today and made the following statements:
The US CBDC could potentially help keep the US dollar strong internationally. Rapid changes in the global monetary system may affect the future international role of the US dollar. As the Fed evaluates its CBDC, it will be considering how the global financial system will evolve over the next decade. The Fed is focused on bringing inflation back to its 2% target.
The US Federal Reserve raised interest rates by 75 basis points on Wednesday, the largest since 1994. Jerome Powell gave the message that an increase of 75 or 50 basis points could be made next month. After these comments, the dollar continues to recover and the US Dollar Index is up 0.75% on the day to reach 104.55. Gold and Bitcoin prices, on the other hand, started to decline.
