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<p><strong>Key Points:</strong></p><ul class="wp-block-list"><li><em>The Fed interest rates cut by 0.25%, lowering the target range to 4.50%-4.75%, continuing its efforts to adjust monetary policy.</em></li><li><em>Fed officials acknowledged that inflation remains elevated while unemployment has slightly risen, and labour market conditions have softened.</em></li></ul><h5 class="wp-block-heading">The Federal Reserve <a href="https://www.federalreserve.gov/newsevents/pressreleases/monetary20241107a.htm" rel="noopener noreferrer nofollow">lowered</a> its benchmark interest rate by a quarter point Thursday, which is the second consecutive cut in an attempt to fine-tune monetary policy.</h5><figure class="wp-block-image aligncenter size-large"><a href="https://coincu.com/wp-content/uploads/2024/11/On_White_57_optimized-scaled.jpg" rel="noopener noreferrer nofollow"><img src="https://coincu.com/wp-content/uploads/2024/11/On_White_57_optimized-1024x576.jpg" alt="Fed Interest Rates Cut Makes Crypto Markets Excited Again" class="wp-image-290983"></a><figcaption class="wp-element-caption"></figcaption></figure><p class="has-background">Read more:<a href="https://coincu.com/242737-revolut-paused-some-crypto-services-by-fca/" rel="noopener noreferrer nofollow"></a><a href="https://coincu.com/283294-fed-interest-rates-drop-50-basis-points/" rel="noopener noreferrer nofollow">Fed Interest Rates Drop 50 Basis Points for First Time in 4 Years&nbsp;</a><a href="https://coincu.com/282288-bitcoin-price-surge-towards-100000/" rel="noopener noreferrer nofollow">&nbsp;</a></p><h2 class="wp-block-heading" id="fed-interest-rates-cut-for-second-month-in-a-row">Fed Interest Rates Cut for Second Month in a Row</h2><p>The decision set a target range for overnight borrowing rates of 4.50%- 4.75%, which affects consumer debt instruments such as mortgages, credit cards, and auto loans.</p><p>The <a href="https://coincu.com/264017-fed-interest-rate-cut-forecasted/" rel="noopener noreferrer nofollow">Fed interest rates</a> cut follows September's larger half-point reduction as the Fed shifts to a less aggressive pace. In its statement, the Federal Open Market Committee, or FOMC, said that inflation is still "somewhat elevated," and unemployment has ticked up though remaining at levels that are still relatively low. Officials also observed a general easing in labour market conditions, signalling some softening in hiring trends.</p><h2 class="wp-block-heading" id="crypto-market-rallies-on-the-back-of-fed-interest-rates-cut-and-u-s-election-results">Crypto Market Rallies on the Back of Fed Interest Rates Cut and U.S. Election Results</h2><p>The update from the Fed also did not carry a similar conviction in hitting a 2% inflation target, something financial markets recognized. The subtle change in wording has directly benefited the cryptocurrency market as it increases investor appetite for risk assets on the heels of an overall lower interest rate environment.</p><p>In return, <a href="https://coincu.com/290773-bitcoin-spot-etf-inflows-reach-622m-with-record/" rel="noopener noreferrer nofollow">Bitcoin</a> surged to near the previous all-time high. Other cryptocurrencies like <a href="https://coincu.com/290852-ethereum-mekong-testnet-for-pectra-upgrade/" rel="noopener noreferrer nofollow">Ethereum</a> and Solana have reached multi-month highs.</p><p>The rally has come in conjunction with <a href="https://coincu.com/290876-donald-trump-victory-paving-way-for-altcoin-etfs/" rel="noopener noreferrer nofollow">Donald Trump's recent victory</a> in the U.S. presidential election, which saw crypto market capitalization rise as high as $2.6 trillion since November 4. All in all, changes in Fed policy and political events create very good conditions for the crypto market.</p><figure class="wp-block-table"><table class="has-luminous-vivid-orange-color has-text-color has-link-color"><tbody><tr><td><em><strong>DISCLAIMER</strong>:&nbsp;The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.</em></td></tr></tbody></table></figure><a href="https://coincu.com/?p=290981" rel="noopener noreferrer nofollow">Read original article on coincu.com</a>

Fed Interest Rates Cut Makes Crypto Markets Excited Again

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