The FED left interest rates unchanged, as expected.
Bitcoin reacted as follows following the development:
FED Chairman Jerome Powell will hold a live press conference in half an hour, at 22:30 Turkish Time (UTC+3). The statements Powell will use at this press conference will perhaps be even more important than the interest rate decision.
It’s the first major decision from the central bank in President Donald Trump’s second term and comes after Trump said he should have some say in Fed policy.
Fed officials now have to decide whether today’s expected pause is a single meeting or the start of a longer process.
While the job market is slowing but stable and inflation is mostly low, Trump’s economic policies and geopolitical threats could push prices higher, leading the Fed to wait longer or even raise interest rates to stifle economic growth, some economists say.
The Fed said the unemployment rate remained stable at low levels and labor market conditions remained solid, amending its previous statement that conditions were easing.
The Fed reiterated that inflation “remains moderately elevated.” The Fed said risks to achieving its employment and inflation targets were “roughly balanced.”
Members unanimously approved the interest rate decision. (It was 11 to 1 at the last meeting) The FED’s FOMC statement mentioned the cooling labor market and improving inflation.
