The Federal Open Market Committee (FOMC) of the United States Federal Reserve has opted to keep its benchmark fed funds rate range at 5.25%-5.50%, as predicted by analysts.
The Federal Open Market Committee (FOMC) of the United States Federal Reserve has opted to keep its benchmark fed funds rate range at 5.25%-5.50%, as predicted by analysts. The FOMC noted the possible impact of tighter financial conditions on economic activity, hiring, and inflation in its policy statement.
The central bank's stance on risks to economic growth remained similar to its previous statement in September, indicating that future rate decisions will depend on incoming data.
The crypto market reacted positively, with Bitcoin (BTC) surging past $35,000 and gaining 2.42% in the past 24 hours. Other large cap crypto assets also rose, with Solana (SOL) outperforming the rest and gaining 9.50% over the last 24 hours.
Investors are now focusing on Fed Chairman Jerome Powell's news conference for indications about future monetary policy.
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