Fed Chair Jerome Powell Speaks in Jackson Hole! Here Are the Highlights and Bitcoin's First Reaction!
Fed Chairman Jerome Powell began his highly anticipated speech in Jackson Hole, Wyoming. Powell offered a lukewarm signal about interest rate cuts, while highlighting the high level of uncertainty that makes the job of monetary policymakers difficult. Highlights of Powell's speech at the Jackson Hole symposium are as follows: “When I took this podium a year ago, the economy was at a turning point. Our policy interest rate had been hovering between 5.5% and 5.5% for more than a year. This restrictive policy stance was appropriate to help reduce inflation and maintain a sustainable balance between aggregate demand and supply.…





