Bitcoin was hovering over $30.3K, up 1%, as investors brushed off unexpectedly strong economic data that renewed fears about inflation. Ether also recently rose 1%. JPRubin23 writes
Equity markets were mixed with the Dow Jones Industrial Average and S&P 500 rising 0.6% and 0.2%, respectively on the upbeat U.S. economic data. First-quarter, Gross domestic Product for the first quarter was revised upward to 2%, surpassing expectations for 1.4% growth. And the Labor Department announced that jobless claims for the week ending June 24 fell by 26,000 to 239,000, the largest decline since October 2021 and below expectations of 265,000.
At the Banco de Espana Fourth Conference on Financial Stability, Federal Reserve Chair Jerome Powell,central bank uncertainty about the appropriate inflationary medicine in the months ahead, although he has suggested in recent weeks that the Fed would raise rates in upcoming months.
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