The Daily Hodl
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise
No Result
View All Result
The Daily Hodl
No Result
View All Result

Bitcoin Dips As U.S. Fed Chair Jerome Powell Says They Are ‘Prepared To Raise Rates Further if Appropriate’

by Conor Devitt
August 26, 2023
in Bitcoin, Regulators

Bitcoin (BTC) dipped below $26,000 for part of the day on Friday after U.S. Federal Reserve Chair Jerome Powell acknowledged the possibility that the Fed might have to hike interest rates again.

Powell spoke at a Fed-sponsored economic policy symposium in Jackson Hole, Wyoming on Friday morning.

He stated that it’s the “Fed’s job” to bring inflation down to the central bank’s target of 2%.

“We have tightened policy significantly over the past year. Although inflation has moved down from its peak – a welcome development – it remains too high. We are prepared to raise rates further if appropriate, and intend to hold policy at a restrictive level until we are confident that inflation is moving sustainably down toward our objective.”

Powell notes that personal consumption expenditures (PCE) inflation peaked at 7% in June 2022 and gradually declined to 3.3% as of July, which the Fed chair says is “roughly in line with global trends.”

Still, Powell says the significant decline in that PCE inflation metric isn’t necessarily telling the full story.

“Headline inflation is what households and businesses experience most directly, so this decline is very good news. But food and energy prices are influenced by global factors that remain volatile and can provide a misleading signal of where inflation is headed. In my remaining comments, I will focus on core PCE inflation, which omits the food and energy components.

On a 12-month basis, core PCE inflation peaked at 5.4% in February 2022 and declined gradually to 4.3% in July. The lower monthly readings for core inflation in June and July were welcome, but two months of good data are only the beginning of what it will take to build confidence that inflation is moving down sustainably toward our goal.”

BTC has since jumped back above $26,000 and is trading at $26,078 at time of writing. The top-ranked crypto asset by market cap is down 0.39% in the past 24 hours.

Follow us on X, Facebook and Telegram

Don't Miss a Beat – Subscribe to get email alerts delivered directly to your inbox

Check Price Action

Surf The Daily Hodl Mix

 
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

Generated Image: Midjourney

Submit a Press Release

Industry Announcements

  • R0AR Introduces Unified DeFi Platform for Token, Liquidity and NFT Staking
    June 17, 2025
  • Avail Goes Full Stack To Capture $300 Billion Global Blockchain Infra Market
    June 17, 2025
  • Fans Hash Launches Zero-Barrier Cloud Mining With Daily Payouts and Global Pool Access
    June 16, 2025
  • Universal Digital Inc. Announces Bitcoin Treasury Strategy Across North America and Asia
    June 16, 2025
  • FIFA Rivals Launches Worldwide, Bringing Non-Simulation Arcade Football Action to Mobile Devices
    June 12, 2025
  • Polemos Announces TGE and a Game-Changing Strategic Partnership With BUFF Accelerating Web 3.0 Adoption
    June 12, 2025
  • Bitpanda Opens the Gate to Web 3.0 With Vision (VSN)
    June 12, 2025
Submit a Guest Post
ADVERTISEMENT
Bitcoin
$104,705.05
$104,705.05
0.83%
Ethereum
$2,512.37
$2,512.37
1.41%
BNB
$645.25
$645.25
1.19%
Solana
$146.43
$146.43
2.64%
XRP
$2.14
$2.14
2.41%

Spotlight

  • Crypto Analyst Predicts ‘Really Epic’ Next Few Months for Bitcoin, Sees Vertical Phase Coming for BTC
    June 11, 2025
  • Banking Giant Societe Generale To Launch Stablecoin on Ethereum and Solana Blockchains
    June 11, 2025
  • ‘Covert Pipeline for Dirty Money’ – Crypto Firm Founder Facing Multiple Charges After Allegedly Laundering $500,000,000 Through US Financial System
    June 11, 2025
  • Paul Tudor Jones Warns US in a ‘Debt Trap,’ Says Bitcoin Part of ‘Ideal’ Portfolio Strategy To Fight Incoming Inflation
    June 11, 2025
DON'T MISS A BEAT
Crypto headlines delivered daily
to your inbox
BTC, ETH, XRP news alert options
By joining The Daily Hodl news list you agree to our
Terms and Conditions and Privacy Policy.
Featured Image: Shutterstock/Billion Photos

Covering the future of finance, including macro, bitcoin, ethereum, crypto, and web 3.

Categories

Bitcoin • Ethereum • Trading •
Altcoins • Futuremash • Financeflux •
Blockchain • Regulators • Scams •
HodlX • Press Releases

 

ABOUT US | EDITORIAL POLICY | PRIVACY POLICY
TERMS AND CONDITIONS | CONTACT | ADVERTISE

JOIN US ON TELEGRAM

JOIN US ON X

JOIN US ON FACEBOOK

COPYRIGHT © 2017-2025 THE DAILY HODL

No Result
View All Result
  • FEATURES
    • News
    • Bitcoin
    • Ethereum
    • Altcoins
    • Financeflux
    • Trading
    • NFTs
    • Blockchain
    • Futuremash
    • Regulators
    • Scams, Hacks & Breaches
  • HODLX
    • Latest Stories
    • FAQ
    • Submit Guest Post
  • INDUSTRY ANNOUNCEMENTS
    • Latest
    • Press Releases
    • Chainwire
    • Sponsored Posts
    • Submit Your Content
  • CRYPTO MARKETS
  • SUBMIT
    • Guest Post
    • Press Release
    • Sponsored Post
    • Advertise

© 2025 The Daily Hodl