Crypto Market Reacts To Jerome Powell's Comments On Rate Hikes

The international cryptocurrency marketplace is reacting to the feedback from Federal Reserve Chairman Jerome Powell. He stated that the U.S. financial system is robust sufficient to resist a fee hike, however that the Fed nevertheless has worries approximately capacity inflation and salary boom.

The feedback got here in reaction to a query at an occasion hosted with the aid of using the National Association for Business Economics on Sunday, October 15th.

Powell stated: We're now no longer involved approximately fee pressures here. We suppose that inflation may be contained.

He brought that he expects salary boom to select out up because the financial system keeps to strengthen, however brought that we do have a few worries approximately salary pressures turning into too strong.