POW-POW has officially paused
Today marked the highly anticipated FOMC meeting. The general consensus was that there would be no further increase in interest rates, and this expectation held true. The Federal Reserve officially announced a pause, affirming that they would not raise rates despite inflation not reaching the preferred levels. Although Federal Reserve Chair Jerome Powell did not claim victory over inflation, the metrics clearly indicate that prices are not decreasing. Powell acknowledges this, but the U.S. economy is performing better than initially projected.
source
Looking ahead to 2024, an election year, it's important to note that while the Fed is not directly controlled by the government, it can still influence decisions when necessary. Until the April meeting, each FOMC gathering may seem insignificant unless there are changes in inflation and a noticeable upward momentum. There is even speculation that the April meeting could potentially include a rate cut. While not highly probable, Federal Reserve Chair Powell has expressed expectations to cut rates by 0.75% in 2024. Although this may not seem significant over the course of a year, it sends a signal to investors that conditions are favorable, potentially reigniting a risk-on mode in the market.
What does this mean for BTC and the broader crypto market? Following the Halving, it is likely that a Bull run mode will ensue, accompanied by increased risk appetite and potential gains. However, caution is advised, as April is still months away, and unforeseen events could potentially disrupt the current trajectory.
The first step is for the ETF narrative to end and see what happens.
What do you guys thing about the rates??
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The year end is near and the Feds are just looking for attention. It is their thing
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Well, we’ll have to see what happens with the election and also after the Bitcoin halving. Looks like 2024 is going to be a wild run for crypto with the way I see it. Government would want to pump more $$$ to attract voters and that would mean those who wish to secure their cash against inflation would want to go the crypto route. But this is just a speculation, let's see how everything turn out around March - April.