Will the Federal Reserve keep interest rates unchanged?
Investors are closely watching how Federal Reserve Chairman Jerome Powell will discuss the future direction of the Fed after Donald Trump's decisive victory in the election. The elected president's planned policies, including tax cuts, tariffs, and a focus on deregulation to stimulate economic growth, could boost economic growth. Inflation may lead the Fed to adopt a more conservative stance.
This could result in a slowdown, halt, or even reversal of recent interest rate cuts. Market sentiment has also changed accordingly; according to the CME FedWatch tool, the likelihood of the Fed maintaining current rates at the December meeting is 35%, up from 14% a month ago.
Recent news has been very positive for Bitcoin, as it recorded a strong rise in November. Donald Trump took the lead in the election earlier this week, and Bitcoin prices soared, surpassing the all-time high set in March, as there are signs he may return to the White House.
Currently, Bitcoin is up 8% for the week and over 22% for the past month. Bitcoin's market capitalization has now exceeded $1.5 trillion, making it the ninth-largest financial asset in the world.
