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22/08/25 10:25 UTC-04

Bitcoin Rebounds to $117,000 Following Fed Chair’s Speech

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Cryptocurrency Bitcoin Rebounds to $117,000 Following Fed Chair’s Speech

Bitcoin Rebounds to $117,000 Following Fed Chair’s Speech

The cryptocurrency market reacted with growth to remarks by Federal Reserve Chair Jerome Powell, who hinted at readiness to cut the key interest rate in September.

Speaking at the Jackson Hole conference, Powell pointed to weak labor market data and slowing economic activity. He added that tighter immigration policies are exerting additional negative pressure on employment and growth.

According to him, the price increases driven by higher tariffs will likely be short-lived. The Fed stands ready to respond should longer-lasting effects emerge.

At the same time, a deterioration in the labor market could negatively impact price stability, which would require monetary policy adjustments, Powell emphasized.

Following his speech, the share of investors expecting a rate cut jumped to 89%, up from 69%.

See also: "Ethereum Cryptocurrency Rises 10% in Bullish Trading Rally"

#Fed #Bitcoin (BTC) #Price Increase

Editor: Alyona Nabok
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