$BTC $BNB Jerome Powell said higher oil prices have clearly contributed to the Fed raising its inflation forecast for the year to 2.7% (up from 2.4%). He dismissed concerns about a return to 1970s-style stagflation, noting that unemployment remains stable and inflation is only slightly above target.
Markets reacted negatively after the Fed announcement. Stocks declined, with the Nasdaq dropping 1.5%, while Bitcoin fell to around $70,900.