Crypto Markets Dip as Powell’s Concerns Weigh on Economic Outlook

Cryptocurrency prices experienced a decline Wednesday following comments from U.S. Federal Reserve Chair Jerome Powell, who highlighted concerns over rising inflation and potential trade disputes as impacting the economy. Powell’s speech at a conference in Chicago focused on the challenges of stagflation – a combination of high inflation and slow economic growth – which he underscored with warnings about increased tariffs and their potential to impede market recovery.