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Crypto Markets Skate Sideways on Friday as US Fed Chair Jerome Powell Strikes Neutral Tone in New Policy Speech

Crypto markets skated sideways on Friday while stocks crumbled as U.S. Federal Reserve Chairman Jerome Powell suggested the Fed would take a wait-and-see approach to monetary policy. The Fed chair says at a conference in Virginia that the US economy faces “a highly uncertain outlook with elevated risks of both higher unemployment and higher inflation.” Powell notes that it’s not the Fed’s role to opine on policy choices, but he did discuss the potential economic impacts of President Donald Trump’s sweeping set of new tariffs , which he says are significantly larger than expected. “The same is likely to be true of the economic effects, which will include higher inflation and slower growth. The size and duration of these effects remain uncertain. While tariffs are highly likely to generate at least a temporary rise in inflation, it is also possible that the effects could be more persistent. Avoiding that outcome would depend on keeping longer-term inflation expectations well anchored, on the size of the effects, and on how long it takes for them to pass through fully to prices. Our obligation is to keep longer-term inflation expectations well anchored and to make certain that a one-time increase in the price level does not become an ongoing inflation problem. We will continue to carefully monitor the incoming data, the evolving outlook, and the balance of risks. We are well-positioned to wait for greater clarity before considering any adjustments to our policy stance. It is too soon to say what will be the appropriate path for monetary policy.” Trump signed an executive order on Wednesday that imposed a 10% baseline tariff on all imported goods entering the US, with the stated aim of protecting domestic manufacturing. He also issued a proclamation detailing “reciprocal tariffs” on dozens of specific countries effective April 9th, with rates totaling up to 54% on China. The overall crypto market cap dropped by 1.2% on Friday, per data from CoinGecko . Stocks were hit harder, with the S&P 500 dropping by 5.97% and the Nasdaq Composite plunging by more than 6%. The Dow Jones Industrial Average also fell by 5.5%. Follow us on X , Facebook and Telegram Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post Crypto Markets Skate Sideways on Friday as US Fed Chair Jerome Powell Strikes Neutral Tone in New Policy Speech appeared first on The Daily Hodl . Coinpaper

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$107,794,000,000,000 of US National Wealth Controlled by Just 10% of Population, According to Federal Reserve

New data from the Federal Reserve shows the most affluent Americans own a staggering portion of the country’s national wealth. In an update, the Fed says that the wealthiest 10% of Americans have accumulated $107.794 trillion in assets and entitlements as of the last quarter of 2024. Data shows the 50% to 90% cohort now holds $48.54 trillion, while the bottom 50% have just $4.01 trillion in wealth. The top 0.1% are worth a total of $22.14 trillion, while those who belong to the 99% to 99.99% have an overall wealth of $27.32 trillion. Americans in the 90%-99% percentile in terms of wealth are in charge of $58.334 trillion. Source: The Board of Governors of The Federal Reserve System Breaking down the assets controlled by the wealthiest 10%, the Fed’s data shows that they have allocated a huge chunk of their fortune – $40.84 trillion – to corporate equities and mutual fund shares as of Q4 2024. Those who belong to the 50% to 90% and the bottom 50% are mostly invested in real estate, allocating a total of $26.99 trillion to properties. They also hold $5.99 trillion in stocks and mutual fund shares. Source: The Board of Governors of The Federal Reserve System According to Federal Reserve data, 133,378 American households belong in the top 0.1%, 1.198 million households are in the 99% to 99.9% and 11.992 million households make up the upper 90% to 99%. Meanwhile, 53.305 million households are part of the 50% to 90%, and the bottom 50% are made up of 66.646 million households. Follow us on X , Facebook and Telegram Don`t Miss a Beat – Subscribe to get email alerts delivered directly to your inbox Check Price Action Surf The Daily Hodl Mix Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing. Generated Image: Midjourney The post $107,794,000,000,000 of US National Wealth Controlled by Just 10% of Population, According to Federal Reserve appeared first on The Daily Hodl . Coinpaper