Crypto Markets Skate Sideways on Friday as US Fed Chair Jerome Powell Strikes Neutral Tone in New Policy Speech
Crypto markets skated sideways on Friday while stocks crumbled as U.S. Federal Reserve Chairman Jerome Powell suggested the Fed would take a wait-and-see approach to monetary policy.
The Fed chair says at a conference in Virginia that the US economy faces “a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation.”
Powell notes that it’s not the Fed’s role to opine on policy choices, but he did discuss the potential economic impacts of President Donald Trump’s sweeping set of new tariffs, which he says are significantly larger than expected.
“The same is likely to be true of the economic effects, which will include higher inflation and slower growth. The size and duration of…
