A brief update on recent developments in the cryptocurrency market.
During an address at the Washington Economic Club, Federal Reserve Chairman Jerome Powell hinted that the central bank might not need to wait for inflation to drop to 2% before cutting interest rates.
"If you're waiting until inflation gets back to 2%, you're probably waiting too long because the effects of the current monetary tightening are still coming through, which might push inflation below the 2% level."
This marks a shift from Powell's earlier statements, where he suggested that the Fed would consider lowering rates once inflation showed a sustained downward trend towards 2%. In June, the US CPI stood at 3%, but with unemployment rising to 4.1%, this might prompt monetary authorities to consider increasing the dollar supply.
Source: Parkiet
Let's stay in the USA. At the Republican Party's convention, Donald Trump officially received the presidential nomination, with J.D. Vance nominated as his running mate. Vance, a senator from Ohio, is a financier, former military officer, and the author of "Hillbilly Elegy," which was adapted into a Netflix movie.
What’s intriguing is Vance’s financial disclosure, revealing his Bitcoin investment. He reported holding BTC worth "between $100,000 and $250,000" (US politicians' financial disclosures often provide broad estimates).
Vance thus complements Trump, who aspires to be the "crypto president" and owns Ethereum.
Source: celebritynetworth.com
Bloomberg experts and others report Ethereum ETFs are set to hit the market on July 23. The Wall Street Journal also reported that the SEC has informed ETF issuers that the funds could begin trading next Tuesday (July 23). All signs point to significant developments in the works.
SEC Chairman Gary Gensler previously stated that the Commission would approve the full issuance "in the summer."
Source: X
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