Ethereum Surges Higher After Fed’s Powell Signals Possible Ease In Rate Hikes: What’s Going On?

Ethereum (CRYPTO: ETH) was trading over 4% higher on Wednesday heading into Fed Chair Jerome Powell’s Brookings Institution speech. After Powell suggested the central bank could begin easing back on its interest rate hikes starting as early as next month, the S&P 500 jumped about 2% and Ethereum began to climb higher in unison, to trade up over 6% from Tuesday’s 24-hour closing price.