Bitcoin Increases to $23.3K as Powell Reiterates 2% Inflation Target

The chairman believes raising the United States debt limit is the only option congress can take.

that the economy’s disinflation is still within its very early stages – particularly in the housing sector.

The chairman reiterated that a 2% inflation rate will remain the Federal Reserve’s target and that they won’t compromise for a higher number. However, he believes that goal won’t be reached until at least 2024. Jerome Powell said he thinks the United States, which is currently under $31.4 trillion of debt, should raise its debt ceiling. He said the Fed will be unable to shield the economy if the government fails to do so.

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