Fed officials on Wednesday paused monetary easing, and Powell in his customary briefing signalled that the central bank will need to see more progress on inflation before considering any further reduction in interest rates.
The Federal Reserve left interest rates unchanged on Wednesday and signalled that it will need to see more progress on inflation before considering any further reduction in borrowing costs.
The central bank also highlighted the need for a “greater regulatory apparatus” around cryptocurrencies, in response to a question about the risks posed by digital assets.
The comments come against a backdrop of heightened investor expectations for friendly digital-asset regulations under President Donald Trump, who has closely engaged with the crypto sector.
Bitcoin, the world’s largest cryptocurrency, rose on Wednesday after Powell’s comments, hitting a session high of $108,000. The token is up over 50 per cent since Trump’s election victory in early November.
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