The FED has finally announced its eagerly awaited interest rate decision.
As expected, the FED left interest rates constant.
Bitcoin experienced a decline of $1000 after the decision.
This means the Fed's benchmark interest rate will remain in the range of 5.25% to 5.5%, its highest level in 23 years, for about a year.
All eyes are now on Powell, who will hold a press conference at 21:30. As Bitcoinsistemi.com, we will share this press conference with you immediately.
Powell will likely talk about the decision and shed light on how the central bank views the overall economy. The market will look for clues in Powell's statements to predict what interest rate steps the FED may take for the rest of the year.
Experts stated that the possibility of the FED, which announced its interest rate decision after the two-day meeting, to cut interest rates was almost non-existent.
Inflation, which means a constant increase in prices throughout the economy, has been well above the 10-year median value of 2.1% in the United States for more than three years. FED policymakers say they prefer inflation to be 2% or “low and stable” in order to “make sound decisions about saving, borrowing and investing.”
Although inflation has fallen significantly in the last two years, it continues to remain above the FED's target of 2%. While the US inflation rate, as measured by the consumer price index, was unchanged during the month when seasonally adjusted, the annual rate decreased slightly to 3.3%.
*This is not investment advice.