Last Minute: Fed Chairman Powell Speaks at Jackson Hole Meeting: Bitcoin Moves

Jackson Hole meeting, which has been on the agenda of the markets for a week, was followed closely by all markets.

Although the meeting will continue tomorrow, the Fed Chairman powell‘s speeches at the meeting today were also extremely important for the crypto money market.

The headlines from Powell’s speech are as follows:

• The longer high inflation lasts, the more likely it is to become entrenched.
• The rate hike in September will depend on incoming data. Low July inflation data is not enough for the Fed to change its view.
• At some point, the Fed rate hike will slow down.

After the statement, Bitcoin regressed to $ 21,350 dollars, but as of now, it is at $ 21,650.

Powell’s statement that the low inflation data for July was not enough, overshadowed the assessments regarding the peak inflation.

The market evaluated this statement negatively and experienced a 1 percent pullback at the first moment.

After Powell’s speech, the markets returned to their previous levels.

During Powell’s speech #Bitcoin, #Ethereum and #NASDAQ movement… pic.twitter.com/dsISmkJUb7

— Bitcoin System (@bitcoinsystem) August 26, 2022