Bitcoin Rally Short-Circuited as Fed Chair Powell Raises Stagflation Fear

Quick Summary:

"We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension," said Powell of the effect of the Trump tariffs.

The price of bitcoin (BTC) fell about 2.5% in the minutes following the Powell remarks, now trading at $83,700, down 1.5% over the past 24 hours.U.S.stocks, which had been trying to mount a comeback from opening declines, also were hit, the Nasdaq slumping 3.4% to a session low.

"We may find ourselves in the challenging scenario in which our dual-mandate goals are in tension," continued Powell.

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Article Details

Author / Journalist: Stephen Alpher

Category: Crypto

Markets: United StatesCuba

Topics: Breaking News Bitcoin Federal Reserve Markets

Source Website Secure: Yes (HTTPS)

News Sentiment: Positive

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-04-16 @ 17:59:21 (1 weeks ago)

News Timezone: GMT -5:00

News Source URL: coindesk.com

Language: English

Article Length: 175 words

Reading Time: 1 minutes read

Sentences: 30 lines

Sentence Length: 6 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © CoinDesk

News ID: 27954053

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