U.S. Federal Reserve Chairman Jerome Powell acknowledged on Wednesday that recent economic data showed a lack of progress in combating inflation, suggesting that the timing of an interest rate cut may be postponed to a later date. New York Fed President John Williams made more lethal remarks yesterday (18th): saying that because inflation is still higher than the Fed's target, there is no urgency to cut interest rates at the moment, and even more if necessary. May consider raising interest rates.
Coincidentally, Atlanta Fed President Raphael Bostic also emphasized in a speech after the U.S. stock market closed on Thursday that if the current restrictive level is not enough to complete the work of reducing inflation, the Fed will then have to adjust the inflation rate. Keep an open mind.
As hopes of the Fed's monetary policy shift became increasingly slim, most of the four major U.S. stock indexes ended in the black with shock last night.
The Dow Jones Industrial Average rose 22.07 points, or 0.06%, to close at 37775.38 points.
The S&P 500 index fell 11.09 points, or 0.22%, to close at 5011.12 points.
The technology-stock Nasdaq index fell 81.87 points, or 0.52%, to close at 15,601.50 points.
The Philadelphia Semiconductor Index fell 75.6 points, or 1.66%, to close at 4491.71 points.
Bitcoin once hit 64,000 mg
In the cryptocurrency market, the price of Bitcoin began to fluctuate higher at noon yesterday, reaching a peak of $64,133 late at night. However, subsequent selling pressure emerged, and the current price at the time of writing was $62,430, with the increase in the past 24 hours narrowing to 1.07%.
Search interest for Bitcoin halving hits new high
Since tomorrow is Bitcoin’s long-awaited fourth halving, the market is eagerly paying attention to the market outlook. Google Trends data shows that the search volume for "bitcoin halving" has reached its highest level ever, and the search popularity is estimated to reach 100 this month, which is a full two times the peak of 36 during the last halving in 2020. More than times.
Ethereum approaches $3,100
The trend of Ethereum is similar to that of Bitcoin. After reaching a maximum of nearly $3,100 last night, the current price of Ethereum is $3,028, up 0.74% in the past 24 hours.
CoinMarkeCap data shows that other top ten coins have seen mixed gains and losses in the past 24 hours. The biggest drop was TON, which rose 5.44%, followed by SOL, which rose 1.56%, standing back above $130. The biggest drop was XRP, which fell 1.25%.
