Bitcoin fell below $26,000 after Federal Reserve chair Jerome Powell's hawkish tone at Jackson Hole on Friday.
Recent market rally grinds to a haltcame to a halt, with The Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite mostly flat on Friday.
A strengthening U.S. dollar index can create headwinds for risk assets. It diminishes the risk-adjusted return associated with bitcoin, making the digital asset less palatable. "It is the Fed's job to bring inflation down to our 2% goal, and we will do so. We have tightened policy significantly over the past year, although inflation has moved down from its peak, a welcome development, it still remains too high," he added.
United States Latest News, United States Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Bitcoin Gives Up Gains, Returns to $26K Ahead of Fed's Jerome Powell at Jackson HoleThe Kansas City Federal Reserve's annual Jackson Hole Symposium is underway, and Powell will deliver his keynote address Friday morning.
Read more »
Bitcoin price holds at $26,100 range ahead of Jerome Powell’s Jackson Hole SpeechAfter triggering an impulse across the cryptocurrency market with a small but steady rise, Bitcoin price has reached a traffic jam and is now stuck ar
Read more »
What happens in Jackson Hole doesn't stay in Jackson HoleMost of the year, people visit Jackson Hole, Wyoming, to ski, fly fish or simply enjoy the region’s vast natural beauty. But for three days in late August, the city situated in the heart of Grand Teton National Park transforms into Woodstock for economists.
Read more »
Why this abstract concept could rattle stocks when Powell speaks at Jackson HoleInvestors and traders are looking for Federal Reserve Chairman Jerome Powell to address where he sees the neutral rate of interest during his speech on Friday.
Read more »
Jackson Hole Preview: Powell poised to keep markets on edge, three scenarios for the US Dollar'We're not in Kansas anymore' – this phrase from The Wizard of Oz reverberates across markets, which fear hawkish comments from the world's most power
Read more »
Oil Prices Stabilize Ahead of Powell’s Jackson Hole Speech on FridayDeclining US yields and the US dollar have helped oil prices recover some of the recent losses. Greater-than-expected EIA crude drawdowns help lift US crude
Read more »