📢 US Federal Reserve (Fed) Chairman Jerome Powell, in his speech at the Kansas City Fed's Jackson Hole Symposium, stated that tight monetary policy should be continued until a sustainable slowdown in inflation is achieved. Powell said they are ready to raise interest rates further if necessary, but will proceed with caution. 📉

Although the price of Bitcoin (BTC) fell for a short time after these statements, it is currently at $ 26,200 and is increasing slightly during the day. According to the CME FedWatch tool, market participants rate the likelihood of a rate hike at the Fed meeting in September at around 20%. 💹

Looking at traditional markets, US stock indexes are up about 0.5%. The 10-year Treasury yield was little changed around 4.22%, a 16-year high. The US dollar index and gold price did not change much during the session. 📊

How do you think the Fed's decision to increase interest rates will affect cryptocurrencies? We are waiting your comments! 💬