Powell Started Speaking Bitcoin Dropped Below $28,000! Here are the First Statements

Federal Reserve Chairman Jerome Powell and Philadelphia Fed President Patrick Harker speak to a roundtable of workers, small businesses, employers and nonprofits.

While the meeting themed on redeveloping and growing the economy continued, important statements came from Chairman Powell and Harker.

Stating that the FED's focus is on a healthy economy, Powell stated that the problems caused by the pandemic continue in the US economy.

Powell had no further comment on monetary policy.

Philadelphia Fed President Patrick Harker stated that the FED is working on price stability and maximum employment.

Following the start of Powell's meeting, Bitcoin fell below $28,000 again while trading at a negative premium of -0.4 to the S&P 500.

The meeting continues with the statements of other speakers. This news will be updated if there is an important statement from Powell.

Powell: The FED's goal is a sustainable strong labor market. Price stability was needed and the FED is now focused on achieving it.

On the other hand, speaking at another panel, Fed Member Barr used the following statements:

• The full effects of the past tightening will emerge in the coming months.
• The important thing is not whether there will be an additional interest rate increase this year. The most important issue is how long is needed to keep interest rates at a sufficiently restrictive level. I think this will take a little more time.