The Federal Reserve has finally revealed its highly anticipated interest rate decision, causing excitement in the crypto market. As predicted, the Fed has decided to keep interest rates unchanged, leading to a $1000 drop in Bitcoin’s value. This decision means that the Fed’s benchmark interest rate will remain between 5.25% and 5.5%, the highest level in 23 years, for the next year.
All eyes are now on Powell, who is set to hold a press conference at 21:30. Experts believe that Powell will discuss the decision and provide insights into how the central bank views the economy. Investors will closely analyze Powell’s statements to anticipate any future interest rate changes by the Fed.
Inflation in the United States has been consistently high for over three years, exceeding the Fed’s target of 2%. Despite a slight decrease in the annual inflation rate to 3.3%, it remains above the desired level. FED policymakers aim for inflation to be stable at 2% to ensure sound financial decisions.
This announcement has significant implications for the market, and traders are advised to stay informed and cautious. Interested in investing in cryptocurrencies? Register with Binance exchange for a 20% commission discount. Stay updated with the latest news and data by following our Telegram and Twitter accounts.
