The US Federal Reserve Raises Interest Rate by 0.25%
The US Federal Reserve has announced its decision to increase the interest rate by 0.25%, marking the 11th consecutive increase since March 2022. While the stock market responded positively to the news, the price of BTC showed little reaction.
Key Points:
- The FOMC plans to implement a 25 basis points hike in interest rates despite milder inflation data.
- The stock market experienced a surge following the announcement, but BTC’s price showed minimal change.
- The interest rate now stands at its highest level in 22 years.
- The committee remains committed to achieving a 2% CPI rate and reducing bond holdings.
- The banking system was assured to be stable and sound.
Will this Announcement Affect Bitcoin’s Price?
Investors are optimistic that the Fed’s decision might impact BTC’s price in the near future. However, achieving similar growth as seen in June may be less likely due to recent data and lack of clarity from the Federal Reserve.
Hot Take:
The Federal Reserve’s decision to raise interest rates shows their commitment to reducing price pressures. While the stock market responded positively, BTC’s price remained largely unaffected. The market’s anticipation of the announcement seems to have driven the initial surge. It remains to be seen how this decision will impact BTC’s price in the coming days.
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