THE HASH: Fed Chair Powell Says Inflation Battle Not Over Just Yet
CoinDesk Podcast Network
CoinDesk
4.8 • 689 Ratings
🗓️ 26 August 2022
⏱️ 18 minutes
🧾️ Download transcript
Summary
The most valuable crypto stories for Friday, Aug. 26, 2022.
Federal Reserve Chair Jerome Powell is doubling down on his intent to aggressively hike interest rates in a bid to bring inflation down. Plus, a closer look at the three-day metaverse conference underway in China.
See also: Federal Reserve’s Powell: Inflation Battle Not Yet Close to Finished
Bitcoin Tumbles Below $21K After Powell’s Hawkish Remarks
I.D.E.A.S. 2022 by CoinDesk facilitates capital flow and market growth by connecting the digital economy with traditional finance through the presenter’s mainstage, capital allocation meeting rooms and sponsor expo floor. Use code HASH20 for 20% off the General Pass. Register now: coindesk.com/ideas
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Transcript
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| 0:00.0 | This is the hash podcast. |
| 0:09.8 | Stay informed with the latest on Bitcoin, ETH, the Metaverse, Web3, and more with stories that matter to the crypto world. |
| 0:17.2 | All on the hash for your ears. |
| 0:20.5 | You're listening to the Coin Desk Podcast Network. |
| 0:25.5 | Hey there, and happy Friday. |
| 0:27.7 | Welcome to The Hash on Coin Desk on Coin Desk TV or on the Coin Desk Podcast Network. |
| 0:32.1 | We're glad you're here, whether you're watching or listening. |
| 0:35.0 | I am Zach Seward. |
| 0:36.2 | That is Jen Sanassi. |
| 0:38.9 | And that over there is Will Foxley with Market Carnage to start the show off. What do you got, Will? It's Jackson Hull Day. |
| 0:45.7 | So let's talk about that Jerome Powell and the rest of the Fed gang were up in Wyoming. |
| 0:50.4 | Talking about markets, we expected a little more information to come out, but it was about the same old, same old here. |
| 0:57.2 | The Fed has been increasing interest rates since the beginning of the year. We went from a 0% federal fund rate, and now we're at like 2.5% federal funds rate. |
| 1:04.6 | This is the fastest increase in U.S. Federal Reserve history. A lot of people are looking at this symposium, which happens every year |
| 1:11.6 | in Jackson Hole, for more information on where the markets are going to go based on Federal |
| 1:15.9 | Reserve sentiment and choices that they're going to make with the federal funds rate. And nothing |
| 1:20.2 | really happened. They basically said that they're going to continue to increase the federal funds rate |
| 1:24.3 | based on market perception, where the labor market is, where the economy |
| 1:28.2 | is, and if we're going to go into recession or not. The next BIP increase, about 75 BIPs, |
| 1:33.1 | is expected in September. Not a big shocker for traders. I think the most interesting thing out of this |
| 1:38.4 | was in fact that the whole deal was live streamed. A lot of people were tuning into this just to |
| 1:43.5 | see how the markets |
... |
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