FED Raises Interest Rate By 0.25%, BTC Fluctuates Around $29,300
The Fed is expected to raise rates by another 25bps at its meeting later today as inflation remains well above the central banks target. At future meetings, a decision can not be made on whether to stop raising interest rates, continuing to rely on data. Bitcoins (BTC) price was little changed at $29,300 shortly after the announcement. On July 27, the Federal Reserve raised its benchmark interest rate by 25 basis points to a range of 5.25%-5.50%, reaching its highest level since 2001, in line with market expectations. The Federal Reserve FOMC said members are unanimous on the interest rate decision and will continue evaluating further information. The full impact of the tightening is yet to be felt. High-interest rates have affected the areas most sensitive to interest rates but have not had a complete impact on the economy. The labor market is still tight, but the balance of supply and demand is more balanced. Although challenging, the number of jobs available and the number of job seekers gradually became proportional. Inflation has eased but still needs a long way to return to 2%. The Fed has cooled down inflation without significantly weakening the economy/labor market, which is a good thing. In the face of rising
