US Fed Chair Jerome Powell Says Rate Hikes To Continue, Crypto Prices Down

Jerome Powell Press Conference: Fed chair Jerome Powell said in his opening remarks at the FOMC Press Conference that the committee is committed to the 2% inflation target. Powell said price stability is the bedrock of the economy. Ongoing increases will be appropriate to return inflation rate to 2%, he said. In reaction to Powell’s comments, the crypto market turned red with around 1% drop in Bitcoin and Ethereum prices.