The FOMC meeting on the interest rate will be held today. A

The FOMC meeting on the interest rate will be held today.  At 2:30 PM ET.  Apparently, before the event, traders decided to reduce risks, so we see a decrease in Bitcoin.

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At the FOMC, fears about inflation increased again. The number of FOMC members who see risks to raising the core PCE rose from 3 to 15. This was the biggest meeting-to-meeting increase since at least 2017. The median inflation forecast for the next year increased from 2.1% to 2.5%. This practically guarantees a pause in rate cuts in January 2025.

DOLLAR RISE TO HIGHEST LEVEL SINCE NOVEMBER 2022 AFTER FED DECISION

I would prefer to see a move to the lower limit before the growth continues. There was a similar scenario in 2023.

The S&P 500 index falls sharply after the Fed cut rates by 25 basis points but raised its inflation forecast. The Fed reduced the forecast from 3 to 2 reduced rates in 2025 and raised inflation expectations from 2.1% to 2.5%. In other words, the Fed is saying that inflation is back, and the rate cut will be smaller than planned. Ps: if nothing changes, of course

After the announcement by the Fed, the futures market is betting that there will NOT be another rate cut in January 2025.

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