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) 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 remains muted, with the total crypto market cap at $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.
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