Bitcoin price continues to lean south following Fed Chair’s comments on Tuesday. Jerome Powell said recent data shows lack of further progress on inflation. Inflation has introduced new uncertainty on whether the Fed can cut rates later this year. Bitcoin price continues to stall with markets leaning south. The outlook was not influenced by statements from the Federal Reserve on Tuesday, April 16 speech.
Walter Bloomberg April 16, 2024 The highlights of the report include: There has been a lack of further progress on inflation based on recent data. There is new uncertainty concerning whether the Fed can cut rates later this year because of inflation data from the last quarter. Fed can maintain higher rates for as long as needed, said Powell, adding that recent data has not given greater confidence on inflation.
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