- Top cryptocurrency, including bitcoin, atherium and XRP, remained mam in the last 24 hours following the FOMC’s decision on interest rates.
- The Federal Reserve kept the interest rates stable at 4.25% -4.50% for the fourth consecutive time.
- This stagnation comes between President Trump’s push for rate cuts, throwing fresh jobs in Fed Chair Zerome Powell.
Bitcoin (BTC) and Altcoins, including atherium (Eth), XRP, and Solana (SOL), saw minor movements on Wednesday as the Crypto market was flexible after the Federal Reserve’s (FED) decision, which remained flexible to give up rates at 4.25%-4.50%.
Crypto Market Fed is stable after the economic outlook
The US Federal Reserve met the interest rates at 4.25% -4.50% during its June policy meeting on Wednesday, meeting the market expectations.
Policy makers mentioned that the committee would plan to achieve maximum employment and reduce inflation, which would keep its long -term target to a target of 2%.
Fed also indicated that the committee is ready to accommodate its monetary policy stance, if the emerging risks are a threat to progress towards their economic objectives.
With the decision of its benchmark rate, Fed also released its quarterly economic estimates. This includes the dot plot, which outlines the forecasts of the rate of policy makers, showing that the authorities still expect a total of 50 basis points to a total of two rates by the end of the year, according to the outlook in March.
However, the Fed now falls to 3.6% in 2026 and up to 3.4% in 2027, indicating the slow rate of rate cut compared to the first anticipated. During his speech, Fed Chair Jerome Powell stated that policy makers are eager to maintain their waiting-and-looking approach before considering a rate cut in a rate.
He shared that the labor market is not showing signs of weakness that would justify a rate cut, claiming that the US has paved the way for its interpretation and economic conditions.
Powell also said that he does not expect any signal of economic recession in the near future.
He said during his speech, “The American economy has weakened all kinds of forecasts for this, in fact in the last three years and this is notable to see.”
It marks the 4th direct meeting, where Fed has decided to leave the rates unchanged, according to the Coby letter. It also comes that President Donald Trump rapidly demanded that policy makers cut rates and labeled Fed Chair Jerome Powell as “too late Powell”.
Trump hit Pavel with a fresh job on Wednesday, accusing him of not having a “smart man”.
The Crypto market kept stable after development, moving above $ 104,800 with bitcoins as Altcoins Ethereum, Soolana, and XRP had eradicated previous damage by receiving 1%, 1%and 0.5%respectively in the last 24 hours.
Despite the flexibility of top assets, many areas of the Crypto market were killed after the Fed’s decision. The meme category experienced a loss of 2.7% in the last 24 hours, with its weekly decline expanded by more than 15%,
Similarly, both Artificial Intelligence Sector and Real-World Asset (RWA) sectors saw a decline of 4.8% and 3% respectively after the announcement.
