FED Chairman Jerome Powell’s Press Conference is Expected After the Interest Rate Decision – Here is the Live Stream Link

After the FED leaves interest rates constant as expected, Chairman Jerome Powell’s meeting is expected to start at 22:30 Turkey time (UTC+3).

Following the FED’s interest rate decision, there was a positive reaction in the Bitcoin price. BTC price gained approximately 1% with a sudden increase.

In a new policy statement, U.S. central bank officials explicitly took note of the fact that inflation “has fallen over the past year” and said it would monitor the economy to see if “any” additional rate hikes are needed, after months of aggressive tightening and a trend to raise interest rates again. directly implied that they might not need to go to a higher level.

Indeed, 17 of 19 Fed officials almost unanimously predict that the policy rate will be lower than it is now by the end of 2024; the median estimate is 75 basis points from the current range of 5.25%-5.50%. No official thinks interest rates will be higher at the end of next year.

While officials are free to raise the Fed’s benchmark overnight interest rate again in the coming months if inflation rises again, that likelihood is increasingly slim given the recent performance of inflation, which has been moving steadily toward the central bank’s target.

Economic forecasts as a whole are firmly anchored in a “soft landing” scenario, which has become the baseline scenario in which U.S. central bank officials hope inflation will continue to slow without a recession and a sharp rise in unemployment.

*This is not investment advice.

Source