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Bitcoin and Crypto Watch: Powell’s Speech & Economic Data
Several major U.S. economic indicators are set to be released this week, but three in particular could carry significant weight for crypto traders: Fed Chair Jerome Powell’s speech, initial jobless claims, and the PCE inflation report.
Powell’s Speech in Focus
Federal Reserve Chair Jerome Powell will speak on Tuesday, just a week after the Fed implemented a 25-basis-point rate cut—its first in nine months. Despite the cut, Powell pushed back against starting a full rate-cutting cycle, citing weak labor data as the reason for the move.
Crypto traders will be closely watching his comments for any dovish or hawkish tones that could sway Bitcoin sentiment.
“Fed Chair Powell will deliver a speech on Tuesday. Expect volatility,” analyst CryptoGoos noted.
Stephen Miran’s Debut Speech
Markets will also pay attention to Fed Governor Stephen Miran, who speaks Monday for the first time since his confirmation. His tenure, lasting until January 2026, introduces a policy voice more aligned with former President Trump.
“Miran architected the entire administration’s monetary and fiscal policy,” analyst MartyParty wrote, adding that his insights may signal a directional shift at the Fed.
Jobless Claims and PCE Inflation
On Thursday, the weekly initial jobless claims data will be released. Last week’s figure stood at 231,000, and economists expect that number to climb to 235,000. A continued rise could signal labor market weakness and increase expectations of further Fed rate cuts—potentially bullish for crypto in the short term.
Finally, Friday’s release of the August PCE inflation report—the Fed’s preferred inflation metric—is expected to show a 0.3% monthly and 2.7% annual increase. Core PCE, excluding food and energy, is projected to hit 3% YoY.
[…] the Federal Reserve’s preferred inflation indicator, the Personal Consumption Expenditures (PCE) Index, will also be issued. The PCE Index accounts for substitution effects when measuring […]