**Short Summary of the FOMC**

The June 2024 FOMC meeting resulted in maintaining the federal funds rate at 5.25% - 5.50%.

Key points include:

- **Rate Decision:** The federal funds rate remains unchanged for the sixth consecutive meeting​

- **Economic Growth:** The economy continues to grow solidly with strong job gains, although inflation remains high​ (Home)​.

- **Inflation and Projections:** Inflation has eased but is still above the 2% target. The FOMC slightly increased its 2024 core PCE inflation projection to 2.7%​ (

- **Future Rate Cuts:** The FOMC signaled fewer rate cuts this year, adjusting expectations from 75 to 50 basis points​

- **Balance Sheet Reduction:** Starting in June, the pace of reducing U.S. Treasury securities will slow from $60 billion to $25 billion per month.

Overall, the FOMC's decision to keep interest rates steady, combined with a cautious approach to economic developments, is likely to be bullish for the cryptocurrency market. Investors seeking alternative assets to hedge against inflation and benefit from stable monetary policy might increase their exposure to cryptocurrencies, driving up prices and market activity.