Powell's Speech Calms Crypto Market
Fed Chair Jerome Powell's speech at the 67th Annual Meeting of the National Association for Business Economics (NABE) in Philadelphia, Pennsylvania, signaled a potential slowdown in the Fed's balance-sheet runoff.
The central bank may soon slow its balance-sheet runoff, a move that hints at easing liquidity pressure.
This announcement led to brief rebounds in Bitcoin and Ethereum, but the overall sentiment remained muted, with the total crypto market cap staying near $3.84 trillion.
- The speech took a technical tone, focusing on the Fed's balance-sheet strategy.
- Investors await clarity on inflation and the next CPI release.
Author's summary: Powell's speech hints at slower balance-sheet runoff.