FOMC Meeting: US Fed Raises Interest Rate by 25 Bps and Bitcoin Price Surges
The US Federal Reserve’s Federal Open Market Committee (FOMC) announced a 25 bps rate hike decision on Wednesday.
**List Your Social Profile Links On CryptosHeadlines.com Send us your name and social profile links, and we will add your name along with your profile links to the Supporter Page as a proud supporter of CryptosHeadlines.com. Supporter's Page**
As expected by the market, the US Federal Reserve’s Federal Open Market Committee (FOMC) made a significant 25 basis points rate hike decision on Wednesday, bringing the rates to their highest level in more than 22 years, setting the current target rate within the range of 525-550 basis points.
The FOMC highlighted the strong job gains in recent months and the steady low unemployment rate, although they expressed concerns about persistently high inflation. In response to the news of the FOMC rate hike, the price of Bitcoin initially experienced a slight dip, but it quickly rebounded and saw gains afterward. Read More...