Major cryptocurrencies were trading mixed on Thursday as Wall Street analyzed remarks from Federal Reserve Chair Jerome Powell.

CryptocurrencyGains +/-Price (Recorded 9:30 p.m. EDT)Bitcoin BTC/USD+0.76%$28,614Ethereum ETH/USD-0.13%$1,563Dogecoin DOGE/USD+0.11%$0.058

What Happened: Powell acknowledged that inflation remains at elevated levels and indicated a need for lower economic growth to address this issue.

“Incoming data over recent months show ongoing progress toward both of our dual mandate goals —maximum employment and stable prices,” Powell said.

Nevertheless, he noted, “Inflation is still too high.” He pointed out that while positive data in the past few months is promising,…

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