Price: $0.38647 0.7607%
Market Cap: 56.73B 1.9074%
Volume (24h): 24.97B 0.4%
Dominance: 1.9074%
Price: $0.38647 0.7607%
Market Cap: 56.73B 1.9074%
Volume (24h): 24.97B 0.4%
Dominance: 1.9074% 1.9074%
  • Price: $0.38647 0.7607%
  • Market Cap: 56.73B 1.9074%
  • Volume (24h): 24.97B 0.4%
  • Dominance: 1.9074% 1.9074%
  • Price: $0.38647 0.7607%
Home > Information news > Fed Chair Delivers Crucial Comments for Crypto Markets

Fed Chair Delivers Crucial Comments for Crypto Markets

Release: 2024/08/24 01:10 Reading: 463

Original author:U.Today

Original source:https://coinmarketcap.com/community/en/articles/66c8a63ee2e0fc3032535d8c

Fed Chair Delivers Crucial Comments for Crypto Markets

Federal Reserve Indicates Potential Interest Rate Adjustments

In a recent speech at the Federal Reserve's annual retreat, Chair Jerome Powell signaled the possibility of policy adjustments.

"The time for policy adjustment has arrived," Powell stated. "The direction is clear, and the timing and pace of rate cuts will be determined by economic data, the evolving outlook, and the balance of risks."

Powell highlighted progress on inflation but did not specify a timeframe or extent for potential rate reductions.

Market Reactions

Financial markets anticipate Fed rate cuts in September. Cryptocurrency markets responded positively, with Bitcoin and the majority of digital assets trading higher.

Specific Market Movements

As of the time of writing, several cryptocurrencies experienced significant gains:

  • Shiba Inu: 3-8% increase
  • Dogecoin: 3-8% increase
  • Aptos: 3-8% increase
  • SUI: 7-10% increase
  • Immutable X: 7-10% increase
  • Thorchain (RUNE): 7-10% increase
  • Bitcoin: 2% increase to $61,665

Outlook

Markets expect a rate cut at the September Fed meeting, as indicated by CME Group's FedWatch tool. However, the magnitude of potential cuts remains uncertain.

Selected Topics

  • Dogecoin whale activity
    Dogecoin whale activity
    Get the latest insights into Dogecoin whale activities with our comprehensive analysis. Discover trends, patterns, and the impact of these whales on the Dogecoin market. Stay informed with our expert analysis and stay ahead in your cryptocurrency journey.
  • Dogecoin Mining
    Dogecoin Mining
    Dogecoin mining is the process of adding new blocks of transactions to the Dogecoin blockchain. Miners are rewarded with new Dogecoin for their work. This topic provides articles related to Dogecoin mining, including how to mine Dogecoin, the best mining hardware and software, and the profitability of Dogecoin mining.
  • Spacex Starship Launch
    Spacex Starship Launch
    This topic provides articles related to SpaceX Starship launches, including launch dates, mission details, and launch status. Stay up to date on the latest SpaceX Starship launches with this informative and comprehensive resource.
  • King of Memes: Dogecoin
    King of Memes: Dogecoin
    This topic provides articles related to the most popular memes, including "The King of Memes: Dogecoin." Memecoin has become a dominant player in the crypto space. These digital assets are popular for a variety of reasons. They drive the most innovative aspects of blockchain.