Published by
Benzinga
Benzinga
Major cryptocurrencies traded with mixed results on Sunday evening, reacting toFederal Reserve Chair Jerome Powell’s speech. Powell emphasized the importance of maintaining strict financial conditions and indicated a potential future increase in interest rates. What Happened: In his opening remarks at the annual Jackson Hole Economic Policy Symposium, Powell offered perspectives on the economic outlook and monetary policy. “We are prepared to raise rates further if appropriate,” Powell stated, reflecting the Fed’s vigilant stance on getting back to its price stability goal. He emphasized the c…