Interest Rates Unchanged, Crypto Markets Reacting With Bullish Momentum!
πΊπΈπ¦ The highly anticipated FOMC meeting has concluded with Jerome Powell announcing unchanged interest rates for the time being. However, there were a few ke
Not financial advice. DYOR.
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πΊπΈπ¦ The highly anticipated FOMC meeting has concluded with Jerome Powell announcing unchanged interest rates for the time being. However, there were a few key (mostly encouraging) takeaways that have led to crypto and equities reacting positively after the news was announced:
πThere are still two rate cuts expected to occur later on this year, with expectations of continued higher inflation and lower economic growth.
πThe U.S. economy growth is now expected to be +1.7%, as opposed to the projection of +2.1% which was made in December.
πJerome Powell stated that the low growth projection, combined with high expected continued inflation, are balancing each other out.
πPowell says that the US tariffs could delay the goal of decreasing inflation.
πIn the Fed's eyes, there is a slightly higher estimated likelihood of a recession under these current economic circumstances.
Look for cryptocurrency markets to closely mirror the S&P 500 throughout the indefinite future, though individual altcoins can continue to see increased unpredictability and volatility.
Not financial advice. DYOR.
