FOMC

Bitcoin

The FED finally announced its interest rate decision after the FOMC meeting that ended today. 
The FED left interest rates constant. The expectation was in this direction. 
All eyes are now on FED Chairman Jerome Powell's press conference, which will start at 22:30 Turkey time (UTC+3). 
Here is Bitcoin's reaction after the FED decision: 
<img decoding="async" class="alignnone wp-image-129099 size-large" src="https://www.bitcoinsistemi.com/wp-content/uploads/2023/12/dxyusdtbtc-1024x447.png" alt="" width="696" height="304"> 
<ul> 
 <li>Most FED officials predict a rate cut in 2024.</li> 
 <li>A 75 basis point interest rate cut is anticipated in 2024.</li> 
 <li>Additional tightening will be considered when necessary.</li> 
 <li>US interest rate futures are pricing in a more than 100 basis point rate cut in 2024 following the Fed decision, little changed from before the Fed statement.</li> 
 <li>FED inflation expectation; It was reduced from 2.5 to 2.4 for 2024. It was reduced from 2.2 to 2.1 for 2025. It kept it at 2.0 for 2026.</li> 
</ul> 
Related News: <a href="https://en.bitcoinsistemi.com/prominent-analyst-il-capo-assesses-btc-price-and-reveals-the-altcoin-he-closed-his-short-position/" target="_blank" rel="dofollow">Prominent Analyst il Capo Assesses BTC Price and Reveals the Altcoin He Closed His Short Position</a> 
But all eyes will be on the FED's forecasts for the economy, inflation and especially interest rates. Although futures markets are predicting four to five quarter-point rate cuts in 2024, the Fed will likely make just two rate cuts, according to Goldman Sachs and Barclays. This is roughly in line with the Fed's forecast in September, although that forecast assumed a final hike this month. 
On the other hand, the US economy is expected to grow at a rate below 2% in the last three months of the year and in 2024, following the rapid growth in the third quarter. Job gains and wage growth also remain strong, though modest. Moody says this should give the Fed confidence that there won't be a rise in wages that would reignite inflation. 
The Fed today is likely to slightly lower its forecast for its preferred annual inflation measure, called PCE, even as it raises its 2024 growth forecast to 1.6% and lowers its unemployment rate forecast to 4% by the end of next year, from 3.7% currently, according to Goldman. It will reduce to 2.5% by the end of next year. 
*This is not investment advice. 
 Continue Reading: <a href="https://en.bitcoinsistemi.com/breaking-highly-anticipated-fed-interest-rate-decision-announced-here-is-the-reaction-of-bitcoin/">BREAKING: Highly Anticipated FED Interest Rate Decision Announced! Here is the Reaction of Bitcoin</a>

BREAKING: Highly Anticipated FED Interest Rate Decision Announced! Here is the Reaction of Bitcoin

Bitcoin Sistemi EN

Other articles published on Dec 13, 2023

Crypto: Polygon launches Portal, A bright future for MATIC!

Binance and Zhao Counter SEC’s Notice and Legal Tactics

Solana Price Prediction as SOL Dips 6.5% to $66 – Can SOL Regain Its All-Time High?

Binance Shaken: A New Leader on the Horizon

Know the Best Cross-Chain Bridges With their Features

Why is Bitcoin and Cryptocurrency Showing Weakness Today? Critical Factors!

Join our free newsletter for daily crypto updates!