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As Bitcoin Fluctuates, High Interest Signal Comes From Fed - Coin Bulletin
**As Bitcoin and equity markets continue to fluctuate, Fed Chair Jerome Powell has signaled that interest rates may remain high for some time.
Fed Chair Powell has signaled that they need more confidence that inflation will move towards the central bank's 2% target.
Powell said, "The latest data has not fed our confidence. It will probably take longer than expected to earn that trust." he explained.
According to data from CoinGecko, the Bitcoin, which has fluctuated since the weekend, has risen to about $64K, a change of 1.6% in the last 24 hours. After Powell's comments, the Dow rose 64 points, while the S&P 500 rose 0.2%; The Nasdaq fell 0.1%.
Stating that the job market is currently strong and evaluating the developments in inflation, Powell said that restrictive policies may continue to be implemented for a while.