FOMC Meeting Today: Powell Speech and Fed Interest Rate Decision Could Move BTC, ETH, XRP and Altcoins
Bitcoin Ethereum FOMC Meeting Today: Powell Speech and Fed Interest Rate Decision Could Move BTC, ETH, XRP and Altcoins The post FOMC Meeting Today: Powell Speech and Fed Interest Rate Decision Could Move BTC, ETH, XRP and Altcoins appeared first on Coinpedia Fintech News Today, the Federal Reserve is set to announce its April interest rate decision, and Jerome Powells press conference begins at 12:00 AM IST. The market maker tool currently shows a 100% probability that the Fed will hold rates unchanged Bitcoin is trading around $77,044 heading into the announcement. Fed To Hold Interest Rate For Third Hold in a Row According to the CME FedWatch Tool, the market is 100% sure that the Fed will keep the rates unchanged at 3.50%–3.75%. This rate decision is widely seen as a formality. However, inflation is still above the Feds 2% target, and while growth has slowed slightly, the economy remains stable. Even so, the job market has stayed surprisingly resilient, payroll growth has been steady, and unemployment is sitting around 4.3%. Oil prices have climbed following This gives the Fed little reason to rush into rate cuts. Because of this, traders are not expecting any surprise move. Instead, all attention is on Fed chair Jerome Powells speech for the