Rupam Roy
US FOMC Meeting LIVE Updates: The crypto market was up today, ahead of the much-awaited FOMC decision, which might set the stage for potential future moves in the crypto market. However, despite a positive momentum in the broader market, Bitcoin prices slipped over 1% and traded below the $43,000 mark.
According to the CME FedWatch Tool, there is a 97.9% probability that the Federal Reserve to keep the interest rate unchanged. Notably, the speech of Fed Chair Jerome Powell will be closely watched by investors for clues on the potential moves by the central bank and the economic health of the nation.
10:36:20 AM IST, 31 January 2024
US FOMC Meeting LIVE Updates: Speculation Mounts As Investors Eye FOMC Decision On Potential Rate Cuts
Investors are on high alert as the Federal Reserve is expected to maintain interest rates in January amid discussions about potential rate cuts. With the US economy exhibiting strength, the job market robust, and inflation below the Fed’s 2% goal, the central bank faces decisions on policy adjustments.
Meanwhile, analysts keenly await Fed Chair Jerome Powell’s post-meeting conference for signals on the timing of rate cuts, with March looming as a possibility. As economic data remains encouraging, the rationale for rate cuts is scrutinized, with concerns about rising inflation-adjusted interest rates gaining traction. The FOMC decision is set for Wednesday at 2 pm ET, followed by Chair Powell’s press conference at 2:30 pm ET.
Share this update:
