Last Minute: FED Announced Its Much Awaited Interest Rate Decision! Was it a surprise? Here is the Latest Status in Bitcoin!

US Federal Reserve, the whole world with traditional finance bitcoin and cryptocurrency It has finally announced its interest rate decision, which is closely followed by the market.

Fed raises interest rates by 25 basis points to 4.5-4.75%

Right after the Fed’s interest rate decision was announced in bitcoin movements seen:

Now all eyes are on Jerome Powell, who will make a press release at 22:30 Turkish time. You can follow the developments regarding the press release on Bitcoinsistemi.com.

#Fed increased the rate by 25 basis points.

Expected 25 basis points.

— Bitcoin System (@bitcoinsystem) February 1, 2023

The Fed had not increased interest rates by 25 percentage points since March 2022. The institution has traditionally raised interest rates in quarter-point increments, but the persistently high inflation pushed the Fed to act more aggressively.

The Fed made four rate hikes of 75 basis points throughout 2022. A rate hike of this magnitude had not occurred since 1994. The Fed’s cumulative rate hikes last year had increased the benchmark federal funds rate by 4.25%.

Around this time last year, economists were questioning why the Fed didn’t start raising interest rates. But now they wonder when the FED, which walks a fine line between reducing inflation to its 2% target and pushing the economy into recession, will stop.

The first employment report of the year will be released on Friday. But Fed members don’t have to wait until then to find out what the unemployment rate was last month. According to the Bureau of Labor Statistics statement, FED members have already taken the important data from the report to use when making their interest rate decision.

Fed Chairman Powell and other Fed officials cannot disclose the information they obtained from this report before the employment report was released.

*Not investment advice.