During the highly-expected Federal Reserve meeting on Wednesday Afternoon, Chair Jerome Powell confirmed that inflation was set to continue for the dollar, perhaps even more than previously expected.
Good news for the crypto markets came out of the latest Federal Reserve meeting as Federal Reserve Chair Jerome Powell confirmed that inflation could turn out the be higher and more persistent than expected. However, the Fed still expects to be able to curb that number back down to their 2% objective.
“Inflation is running well above our 2% objective, and has been for a few months, and is expected to run certainly above our objective for a few months before we believe it’ll move back down toward our objective. The question of whether we’ve met that objective, formally, is really one for the committee to make,” Powell said.
As the crypto market expected the news, Bitcoin hasn’t had a clear reaction to these recent announcements. Bitcoin is still hovering around $40,000 as the market confirms its recent bullish tendency.
