Bitcoin price tests $27K support as Fed holds interest rates at FOMC

followed BTC price action as it reacted to the rate decision and accompanying commentary from Fed Chair Jerome Powell.

“The Committee seeks to achieve maximum employment and inflation at the rate of 2 percent over the longer run,” a“In support of these goals, the Committee decided to maintain the target range for the federal funds rate at 5-1/4 to 5-1/2 percent.”ahead of time by markets, with a 99% probability of a rate hike pause already in place, per data from CME Group’s FedWatch Tool.

“In assessing the appropriate stance of monetary policy, the Committee will continue to monitor the implications of incoming information for the economic outlook. The Committee would be prepared to adjust the stance of monetary policy as appropriate if risks emerge that could impede the attainment of the Committee's goals,” the release continued.2. 12 Fed officials see 1 more rate hike5. Fed sees inflation at 2.

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Bitcoin Trades Flat After Fed Maintains Interest Rate Level At FOMCThe central bank expects its elevated rate to damper economic activity in the coming months.
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