FOMC Verdict: Rates raised by 25bps, FOMC dot plot remains unchanged, Bitcoin stays at $28,500
Quick Take
- The Federal Reserve raised the federal funds rate by 25 bps.
- This took the federal funds rate to 4.75 – 5%
- Bitcoin price stayed relatively flat – $28,500
- The Fed sees 5.1% on the median dot plot for 2023.
- The Fed also expects one more rate hike.
- Drops “ongoing rate hikes” from statements. “US banking system is sound and resilient.”
- All eyes are now on Powell, discussing the new Fed Dot Plot and economic projections at 6:30 PM GMT.
The post FOMC Verdict: Rates raised by 25bps, FOMC dot plot remains unchanged, Bitcoin stays at $28,500 appeared first on CryptoSlate.
source https://cryptoslate.com/insights/fomc-verdict-rates-raised-by-25bps-fomc-dot-plot-remains-unchanged-bitcoin-stays-at-28500/
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