{"id":24827,"date":"2024-07-11T12:00:21","date_gmt":"2024-07-11T09:00:21","guid":{"rendered":"https:\/\/coinengineer.io\/?p=24827"},"modified":"2024-07-11T11:26:55","modified_gmt":"2024-07-11T08:26:55","slug":"powell-spoke-stocks-rose-crypto-remained-stable","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/","title":{"rendered":"Powell Spoke, Stocks Rose, Crypto Remained Stable!"},"content":{"rendered":"<p>On the second day of his testimony before Congress, <strong>Federal Reserve Chairman Jerome Powell<\/strong> stated that recent data showed \u201c<em>modest progress<\/em>\u201d on inflation. The stock markets responded positively to this announcement. However, cryptocurrencies remained stable.<\/p>\n<p>Following Powell\u2019s statement on Capitol Hill, stocks rose. <strong>The S&amp;P<\/strong> 500 increased by 0.26% in early trading, while the <strong>Nasdaq<\/strong> climbed by 0.42%. On the other hand, <strong>Bitcoin<\/strong> remained unaffected by the risk-taking behavior in the stock markets, confined to a narrow 24-hour range between $57,500 and $59,000.<\/p>\n<p><strong>Powell<\/strong> said, \u201c<em>More good data will increase our confidence that inflation is moving sustainably towards our 2% target<\/em>\u201d indicating that the Fed expects positive trends to continue before changing the current rate. According to the Chicago Mercantile Exchange (CME) FedWatch tool, interest rate traders have set the probability of a rate cut in September at 71.8%.<\/p>\n<blockquote><p><em>Greater confidence is required before rate cuts.<\/em><\/p><\/blockquote>\n<p>Powell noted, \u201c<em>Recent monthly data shows modest progress in inflation.<\/em>\u201d Citing a wide range of surveys from households, businesses, economic forecasters, and financial market measures, he stated that long-term inflation expectations are \u201c<em>well anchored<\/em>.\u201d<\/p>\n<p>Powell explained, \u201c<em>A restrictive monetary policy helps balance supply and demand and puts downward pressure on inflation<\/em>.\u201d He emphasized that the committee would not consider lowering the federal funds rate target range without greater confidence that inflation is moving sustainably towards the 2% target.<\/p>\n<p><i><span style=\"font-weight: 400\">You can also freely share your thoughts and comments about the topic in the comment section. Additionally, don\u2019t forget to follow us on our <\/span><\/i><a href=\"https:\/\/t.me\/coinengineernews\"><i><span style=\"font-weight: 400\">Telegram, <\/span><\/i><\/a><a href=\"https:\/\/www.youtube.com\/@CoinEngineer\"><i><span style=\"font-weight: 400\">YouTube<\/span><\/i><\/a><i><span style=\"font-weight: 400\">, and <\/span><\/i><a href=\"https:\/\/twitter.com\/coinengineers\"><i><span style=\"font-weight: 400\">Twitter<\/span><\/i><\/a><i><span style=\"font-weight: 400\"> channels for the latest <\/span><\/i><a href=\"https:\/\/coinengineer.net\/blog\/news\/\"><i><span style=\"font-weight: 400\">news<\/span><\/i><\/a><i><span style=\"font-weight: 400\"> and updates.<\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On the second day of his testimony before Congress, Federal Reserve Chairman Jerome Powell stated that recent data showed \u201cmodest progress\u201d on inflation. The stock markets responded positively to this announcement. However, cryptocurrencies remained stable. Following Powell\u2019s statement on Capitol Hill, stocks rose. The S&amp;P 500 increased by 0.26% in early trading, while the Nasdaq<\/p>\n","protected":false},"author":6,"featured_media":24828,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9,10,657,1,2],"tags":[61,4118,577,4536,7320],"class_list":["post-24827","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","category-economy-news","category-en","category-genel","category-news","tag-bitcoin","tag-jerome-powell","tag-nasdaq","tag-sp","tag-stocks"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Powell Spoke, Stocks Rose, Crypto Remained Stable! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Powell Spoke, Stocks Rose, Crypto Remained Stable! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"On the second day of his testimony before Congress, Federal Reserve Chairman Jerome Powell stated that recent data showed \u201cmodest progress\u201d on inflation. The stock markets responded positively to this announcement. However, cryptocurrencies remained stable. Following Powell\u2019s statement on Capitol Hill, stocks rose. The S&amp;P 500 increased by 0.26% in early trading, while the Nasdaq\" \/>\n<meta property=\"og:url\" content=\"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/\" \/>\n<meta property=\"og:site_name\" content=\"Coin Engineer\" \/>\n<meta property=\"article:published_time\" content=\"2024-07-11T09:00:21+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-07-11T08:26:55+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/powell.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1024\" \/>\n\t<meta property=\"og:image:height\" content=\"535\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Tanju Akb\u0131y\u0131k\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/\",\"url\":\"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/\",\"name\":\"Powell Spoke, Stocks Rose, Crypto Remained Stable! - Coin Engineer\",\"isPartOf\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/powell.jpeg\",\"datePublished\":\"2024-07-11T09:00:21+00:00\",\"dateModified\":\"2024-07-11T08:26:55+00:00\",\"author\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\"},\"breadcrumb\":{\"@id\":\"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/#primaryimage\",\"url\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/powell.jpeg\",\"contentUrl\":\"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/powell.jpeg\",\"width\":1024,\"height\":535,\"caption\":\"powell\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/coinengineer.net\/blog\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Powell Spoke, Stocks Rose, Crypto Remained Stable!\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#website\",\"url\":\"https:\/\/coinengineer.net\/blog\/\",\"name\":\"Coin Engineer\",\"description\":\"Btc, Coins, Pre-Sale, DeFi, NFT\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/coinengineer.net\/blog\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546\",\"name\":\"Tanju Akb\u0131y\u0131k\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g\",\"caption\":\"Tanju Akb\u0131y\u0131k\"},\"url\":\"https:\/\/coinengineer.net\/blog\/author\/cetanju\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Powell Spoke, Stocks Rose, Crypto Remained Stable! - Coin Engineer","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/","og_locale":"en_US","og_type":"article","og_title":"Powell Spoke, Stocks Rose, Crypto Remained Stable! - Coin Engineer","og_description":"On the second day of his testimony before Congress, Federal Reserve Chairman Jerome Powell stated that recent data showed \u201cmodest progress\u201d on inflation. The stock markets responded positively to this announcement. However, cryptocurrencies remained stable. Following Powell\u2019s statement on Capitol Hill, stocks rose. The S&amp;P 500 increased by 0.26% in early trading, while the Nasdaq","og_url":"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/","og_site_name":"Coin Engineer","article_published_time":"2024-07-11T09:00:21+00:00","article_modified_time":"2024-07-11T08:26:55+00:00","og_image":[{"width":1024,"height":535,"url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/powell.jpeg","type":"image\/jpeg"}],"author":"Tanju Akb\u0131y\u0131k","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Tanju Akb\u0131y\u0131k","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"WebPage","@id":"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/","url":"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/","name":"Powell Spoke, Stocks Rose, Crypto Remained Stable! - Coin Engineer","isPartOf":{"@id":"https:\/\/coinengineer.net\/blog\/#website"},"primaryImageOfPage":{"@id":"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/#primaryimage"},"image":{"@id":"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/#primaryimage"},"thumbnailUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/powell.jpeg","datePublished":"2024-07-11T09:00:21+00:00","dateModified":"2024-07-11T08:26:55+00:00","author":{"@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546"},"breadcrumb":{"@id":"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/"]}]},{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/#primaryimage","url":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/powell.jpeg","contentUrl":"https:\/\/coinengineer.net\/blog\/wp-content\/uploads\/2024\/07\/powell.jpeg","width":1024,"height":535,"caption":"powell"},{"@type":"BreadcrumbList","@id":"https:\/\/coinengineer.net\/blog\/powell-spoke-stocks-rose-crypto-remained-stable\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/coinengineer.net\/blog\/"},{"@type":"ListItem","position":2,"name":"Powell Spoke, Stocks Rose, Crypto Remained Stable!"}]},{"@type":"WebSite","@id":"https:\/\/coinengineer.net\/blog\/#website","url":"https:\/\/coinengineer.net\/blog\/","name":"Coin Engineer","description":"Btc, Coins, Pre-Sale, DeFi, NFT","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/coinengineer.net\/blog\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Person","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/286f3a00b45c1661961e40ff0a1c7546","name":"Tanju Akb\u0131y\u0131k","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/coinengineer.net\/blog\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/a027c5acae1ab2c3649244f87d705ac7ee359dd7e3222b84cb1d32ba3a8d2e18?s=96&d=mm&r=g","caption":"Tanju Akb\u0131y\u0131k"},"url":"https:\/\/coinengineer.net\/blog\/author\/cetanju\/"}]}},"_links":{"self":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/24827","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/comments?post=24827"}],"version-history":[{"count":1,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/24827\/revisions"}],"predecessor-version":[{"id":24829,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/posts\/24827\/revisions\/24829"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media\/24828"}],"wp:attachment":[{"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/media?parent=24827"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/categories?post=24827"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coinengineer.net\/blog\/wp-json\/wp\/v2\/tags?post=24827"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}