The FED Has Made a Decision on Interest Rates – Here's Bitcoin's Reaction
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The Fed has finally announced its interest rate decision to the public, something crypto market watchers have been waiting for with excitement.
As expected, the FED kept interest rates unchanged.
Bitcoin experienced a drop of $1000 following this decision.
This means Fed interest rates will remain at 5.25% to 5.5%, a 23-year high.
Inflation has been well above the 10-year average of 2.1% in the United States over the past three years. Fed policymakers said they prefer inflation to be at 2% or “low and stable” to “make the right decisions about saving, borrowing and investing.”
Although inflation has fallen significantly over the past two years, it continues to remain above the Fed's 2% target.