The US Federal Reserve has finally shared its interest rate decision, which is also closely related to Bitcoin and cryptocurrency market followers.
The Fed raised rates by 25 basis points.
Almost the entire market was expecting a 25 basis point rate hike.
Now, Jerome Powell's press conference at 21:30 will be followed. As Bitcoinsistemi.com, we will be presenting the important points of this meeting to you live.
Here is Bitcoin's reaction to the Fed's interest rate decision:
After a series of rapid rate hikes last year, in which the Fed moved in unusually large, three-quarter-point strides at one point, policymakers said they were now making a meeting-to-meeting decision based on incoming data.
The Fed won't update its quarterly economic and interest rate projections at its meeting this week, but policymakers will have an opportunity to discuss quarterly bank survey data, which has grown in importance since a series of regional bank crashes earlier this year.
Policy makers' projections in June indicated that the Fed was nearing the end of its rate hike cycle, and the majority felt it needed only a quarter-point increase beyond Wednesday's expected hike.
New data on the personal consumption expenditures price index, the FED's preferred measure of inflation, will be released on Friday.
*Not investment advice.
