The much awaited Fed rate decision has been announced. The US central bank, the Fed, increased the interest rate by 0.75 basis points. The FED increased the policy rate to the range of 3.00%-3.25%. The interest rate decision was taken unanimously.
The Fed has announced its interest rate decision!
The US central bank, the FED, has announced the interest rate decision that all markets have been waiting for. In its previous meetings, the FED had increased the interest rate by 0.75 basis points, breaking new ground after 28 years. Now, the Fed has increased the interest rate by 0.75 basis points again. Now all eyes are on the FED Chairman, who will make a statement at 21.30. The speech of the Fed Chairman will determine the direction of the markets. After the Fed’s interest rate decision, Bitcoin and gold were subject to downward movements. Jerome Powell’s statements will be on everyone’s agenda as they contain signals for the monetary policy of the next period.
After the Fed’s interest rate decision was announced, the gold price slipped from $1,670 to 1.663. Bitcoin price declined from $19,500 to $19,180. With the initial response, the US Dollar Index jumped to a two-year high above 111.50, gaining more than 1% on a daily basis. The FED stated that it is extremely cautious against inflation risks and is determined to return inflation to 2%. Recent indicators point to modest growth in spending and production, according to the FED. Inflation remains high, reflecting pandemic-related imbalances, higher food and energy prices, and broader price pressures, according to the agency. Stay tuned to watch the FED President’s speech live!
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