Fed

The post FED Keeps Rate at 5.3%, Signals One Cut Despite Lower Inflation appeared first on Coinpedia Fintech News Federal Reserve officials revealed on Wednesday that inflation has moved closer to their target level in recent months. However, they indicated that they expect to cut their benchmark interest rate only once this year. This forecast is down from their previous projection of three rate cuts, due to inflation persistently remaining above their target level. The policymakers kept their key rate…

Bitcoin dipped as much as 5% on Tuesday before recovering back above the support at $67,000. Federal Reserve Chairman Jerome Powell gives his customary speech on Wednesday after the FOMC meeting. Will he be dovish and add fuel to a potential bounce, or will sticky inflation incline him to be more hawkish and thereby suppress risk assets? Powell’s speech At 2pm ET, Federal Reserve Chairman Jerome Powell will go to the lectern once more to deliver his customary speech at…

Bitcoin price extended losses below $67,500 support zone. BTC tested the $66,000 support zone and is now attempting a recovery wave. Bitcoin started another decline below the $68,500 support zone. The price is trading below $68,000 and the 100 hourly Simple moving average. There is a connecting bearish trend line forming with resistance at $68,650 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair could recover but the upsides might be limited above the $68,500…

Bitcoin’s price has consistently exhibited notable volatility around Federal Open Market Committee (FOMC) meetings. Historical data from recent meetings indicates that Bitcoin tends to experience a drop in value before the FOMC’s interest rate decisions, followed by significant gains post-announcement. Bitcoin Dips Before FOMC, Rallies Post Fed Decision The Federal Open Market Committee is a branch of the Federal Reserve System responsible for overseeing the nation’s open market operations. The FOMC meetings are crucial events where key decisions on the…

The post Senators Slam FED Chair, Demand Action on Interest Rates Amid Market Anxiety appeared first on Coinpedia Fintech News Following significant rate adjustments by leading central banks, including the European Central Bank’s recent trim from 4% to 3.75%, three influential U.S. Senators are taking action. Elizabeth Warren, Jacky Rosen, and John Hickenlooper have penned a compelling letter to Federal Reserve Chair Jerome Powell, urging a similar reduction in the federal funds’ interest rates to ease financial strains on working…

Bitcoin is on the rampage, breaching the key resistance level at $71,000 recently. The rally and prospect of Bitcoin has stirred a corresponding shift in altcoins. Bitcoin (BTC) recently soared over $71,000, inching closer to its all-time high of $73,628. This rally comes ahead of the Federal Reserve meeting next week, with investors anticipating rate cuts later this year. Hopes for Lower Interest Rates Recent economic data suggests moderating inflation and a softening job market in the US, strengthening the…

XRP investors are increasingly confident of a price breakout amid fed rate cuts and the key update on the Ripple v. SEC case. Ripple has called on unity in the crypto industry ahead of a changing regulatory landscape that promises to bolster it. XRP is emerging as an investor favorite with key indicators pointing to a bullish breakout in the coming weeks. The altcoin has seen its prices suppressed in the past couple of years due to its ongoing case…

The Federal Reserve decided to maintain its benchmark interest rate of 5.25%% to 5.5% at the highly anticipated Federal Open Market Committee Meeting (FOMC) on Wednesday, following a fearsome 6% drawdown in Bitcoin’s price earlier that day. Within five minutes of the announcement, Bitcoin’s price rose from $57,300 to $57,700 Per a press release, the central bank said it also plans to slow down the rate at which it sells US Treasury securities starting in June, reducing its monthly redemption…

The price of Bitcoin dropped to $57,300 as investors were unsure what to expect before the Fed announcement. Permanent holders and whales reduce the demand, which sends the market anticipation of a decline. Bitcoin and various cryptocurrencies experienced a significant downturn, dropping to their lowest levels in over two months. This decline coincided with broader market pessimism as investors awaited the U.S. Federal Reserve’s impending interest rate decision. Bitcoin’s price dipped below $57,000 for the first time since late February,…