Why Bitcoin Will Still Rise Despite Economic Policy Uncertainty
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The US Federal Reserve kept interest rates between 5.25% and 5.5% yesterday, in line with widespread market predictions.
In his speech, the Chair of the Fed, Jerome Powell, also managed to reduce market expectations of an interest rate cut in March. The market currently estimates the probability that an interest rate cut will be communicated at the Fed's March meeting at only 35.5%, down from 48% a week ago.
All Eyes on Inflation
In the question and answer session following the press release, Jerome Powell emphasized the need to have 'greater confidence' that inflation continues its downward trend towards the desired 2% before a rate cut can be implemented.
