The Federal Reserve of the United States has released its interest rate decision. Here is how Bitcoin and the cryptocurrency market reacted right away.
Bitcoin and cryptocurrency market participants now have access to the Federal Reserve’s interest rate decision.
An increase of 25 basis points was implemented by the Federal Reserve. Almost all traders anticipated a rate rise of 25 basis points.
At this time, attention turns to Jerome Powell’s news conference at 21:30. Bitcoinsistemi.com will be live-streaming the meeting and reporting on all the key takeaways for you.
After the Federal Reserve raised interest rates, Bitcoin dropped. After a year of quick rate rises, during which the Fed made exceptionally huge, three-quarter point leaps at one point, officials have declared they would now make a meeting-to-meeting decision depending on new data.
In lieu of updating its quarterly economic and interest rate estimates, the Federal Reserve will meet this week to examine quarterly bank survey data.
According to estimates made in June, policymakers anticipated the Fed to complete its rate rise cycle within the next few weeks, and the majority believed it required just a quarter-point increase beyond Wednesday’s planned move.
The Federal Reserve’s favoured inflation gauge, the Personal Consumption Expenditures Price Index, will see new data issued this coming Friday.
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