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Federal Reserve governor Michael Barr said that further rate increases might be necessary to ensure inflation returns to the 2% target in a timely manner, adding that additional policy adjustments could be followed. The remarks come a week after the Fed’s first rate hike since July 2023 and reinforce the pressure already weighing on Bitcoin, which is trading near $84,600 after a second rejection at $87,300.
$BTC
Federal Reserve governor Michael Barr said that further rate increases might be necessary to ensure inflation returns to the 2% target in a timely manner, adding that additional policy adjustments could be followed. The remarks come a week after the Fed’s first rate hike since July 2023 and reinforce the pressure already weighing on Bitcoin, which is trading near $84,600 after a second rejection at $87,300.
$BTC