June 28 (Cointime) - US Federal Reserve Chairman Jerome Powell warned that there may be two more interest rate hikes before the end of 2023, causing the S&P 500 Index to drop while Bitcoin's price slightly increased.

Powell made the comments at a forum of central bank leaders, where he explained that there is a strong majority among Fed officials to go for two more rate hikes. The warnings come as traders anticipate a rate hike at the July 26 meeting of the Federal Open Market Committee, with an overwhelming 81.8% of respondents showing confidence in a rate hike according to the CME FedWatch Tool.