Cryptocurrency Market News: Officials at the Federal Open Market Committee (FOMC) saw an uncertain environment over further interest price hikes at the May Fed meeting, the meeting minutes stated on Wednesday. Amid the concerns around the debt ceiling crisis, the committee felt there mayย be a need for further tightening of financial conditions, while wholeย lotย of disruptions were stated to be expected. Inย theย meantime, the cryptocurrencyย market did not show any wholeย lotย of changes to the Fed meeting minutes release.
In this context, thereย is no commitment from theย Unitedย States Government about its intentions to avoid the debt default. Nonetheless, top Republican Kevin McCarthy on Wednesday affirmed his confidence that getting a deal was possible regardlessย of a halt in top level talks since his Monday meeting with President Joe Biden.
Unanimous Decision To Raise Prices In May Meeting
The Fed minutes showed that there was a widespread consensus in the board about raising interest prices. Nonetheless, the committee felt there was manyย of uncertainty about price hikes in further meetings. Hence, the FOMC said it would continue to monitor the implications of incoming information for the economic outlook.
โ(The committee) would be prepared to adjust the stance of monetary policy as appropriate if dangers emerge that could impede the attainment of the committeeโs goals.โ
This could mean a positiveย tendency environment for Bitcoinย (BTC) price as uncertainty in the macroeconomic space triggers vulnerabilities in the short term.
