Bitcoin climbed back toward the $60,000 level on Wednesday after Federal Reserve Chairman Kevin Warsh said inflation risks had eased while reaffirming the central bank’s commitment to bringing inflation back to its 2% target.
Warsh declined to provide guidance on the Federal Reserve’s next rate decision, saying policymakers would debate incoming data at their meeting in four weeks during a panel discussion at the European Central Bank’s annual forum in Sintra, Portugal.
Instead, he emphasized that the Fed continued to focus on price stability.
“Inflation risks have receded,” Warsh said. “If there were people in households or the business sector, in the financial markets, who thought that this central bank would be comfortable with an inflation target above 2%, well, I guess they would be disappointed. We’re going to deliver price stability in the United States.”
Bitcoin pared earlier losses to trade back around the $60,000 level, up more than 2% over the past 24 hours, according to CoinDesk Data.
