Bitcoin Touches $40,000 As Fed Raises Rates In Biggest Hike In 20 Years
The Federal Reserve raised rates by 50 basis points on Wednesday in its latest attempt to curb inflation in the U.S.The U.S. Federal Reserve (Fed) has raised interest rates by 50 basis points in its largest hike since 2000.Bitcoin briefly touched $40,000 after the Fed released its new monetary policy guidelines. Image source: TradingView. The central bank’s Federal Open Markets Committee (FOMC) said in a Wednesday statement that the decision was made to support its goals of achieving maximum employment and curbing inflation rates to 2% over the longer run.The committee also announced....
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The U.S. Federal Reserve raised the benchmark interest rate on Wednesday and the increase was the biggest rate hike in two decades. “Inflation is much too high,” the central bank’s chair Jerome Powell said after the Fed raised rates by 0.5%. FOMC Decides to Hike Rate by 3/4 to 1% — Increase Was the largest Rate Hike in 2 Decades On May 4, 2022, the U.S. central bank raised the benchmark interest rate in order to curb rising inflation. The Federal Open Market Committee (FOMC) explained on Wednesday in a press release that the 12 FOMC members “decided to....
The Federal Reserve of the United States increased interest rates by 0.75 percent on Thursday, the single biggest increase in three decades. However, the central bank has indicated that additional increases are forthcoming later this year. Bitcoin fluctuated significantly following the Fed’s announcement of a rate hike, which was a desperate attempt to counteract increasing […]
FOMC Chair Jerome Powell assured investors that the Fed is ‘not trying to induce a recession’ in the United States.
The FOMC meeting is currently looming above the financial markets, including bitcoin, given that it is just a few days away. Previous interest rate hike trends and the fact that inflation remains a prominent threat have led to a negative outlook for the FOMC meeting. It is expected that another Fed interest rate hike is on the horizon, which will no doubt have a profound effect on the crypto market. FOMC Meeting Draws Near The next FOMC meeting will take place on November 1-2 according to the official schedule. It happens around once every one to two months and is important as this is....
The May Federal Open Market Committee policy meeting concluded with the largest single rate hike in over two decades. The United States Federal Open Market Committee (FOMC) concluded two days of meetings Wednesday with a widely anticipated announcement of an interest rate hike of 50 base points, or 0.5%. It is the second of an expected seven rate adjustments this year. In March, the Federal Reserve raised its benchmark rate by 25 basis points, or 0.25%, marking the first upward adjustment since 2018. Markets were braced for Wednesday’s hike, which was the steepest since 2000, so the....