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Investors are waiting for Bitcoin to break out of its current trading value range of $30,000 to $40,000 that’s been in place since a collapse from a record of almost $65,000 in April.
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President-elect Joe Biden's proposal to spent another $1.9 trillion to help fight the pandemic and its shocks is putting Wall Street on inflation-watch. But investors say the U.S. economy and financial markets would be worse off without it.
Powell, speaking on a livestreamed event, said interest rates will be raised "no time soon" and there will be plenty of notice "well in advance of active consideration."
Bitcoin has wiped out about $185 billion in value since Friday, more than the market capitalization of 90% of individual companies in the S&P 500.