.jpmorgan is bearish on crypto after Jerome Powell’s recent comments
. Kelly is convinced that the persistent hawkishness of the U.S. Federal Reserve will spell more trouble for digital assets.Ripple's General Counsel Says SEC Leaves Consumers Holding the Bag
The crypto market took a sharp bearish turn after Fed Chair Jerome Powell said that the central bank would continue its aggressive campaign to raise interest rates at the Jackson Hole conference. Bitcoin and top altcoins erased their gains due to Powell's bearish remarks. On Monday, Minneapolis Federal Reserve Bank President Neel Kashkari said that he was"happy" about the market sell-off since it means that investors understand that the Fed is fully committed to bringing inflation back to 2%. Kashkari says that he was"not excited" by the stock market rally that took place in late July after the central bank announced its second consecutive 75-basis-point rate hike.
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