Kevin Warsh warning at Jackson Hole pushes Bitcoin under $80,000
Business
Bitcoin just slipped under $80,000 after Federal Reserve Chairman Kevin Warsh warned at the Jackson Hole conference that more action could be coming if inflation doesn't cool to the Fed's 2% target.
His comments quickly put the brakes on Bitcoin's recent rally and made investors a bit more cautious.
Fed's Warsh lifts September hike odds
Warsh's speech also pushed up two-year US Treasury yields and raised the chances of a Fed rate hike in September to over 50%.
On Friday, Bitcoin had slipped back below $80,000 and remained well above levels seen earlier this month. Other rate-sensitive assets dipped too.
The Fed is still under pressure as inflation stays stubbornly high.