Chairman Powell of the Federal Reserve began his speech at the same time that the interest rate decision was announced. Prior to this discourse, the Federal Reserve announced its interest rate decision, confirming a consistency of 5.50%, which is of particular relevance to stakeholders in the volatile realm of digital currency such as Bitcoin.
Powell Proclamation Ascends the Platform
At the time of writing, Federal Reserve Chairman Jerome Powell is delving into issues of critical importance that have the potential to have a significant impact on the global financial system in the near future, following his announcement at 9:00 p.m.
The themes under scrutiny play an important role in orienting market participants for the period of the remaining in the annals of 2024.
In accordance with the proclamation issued at 9:00 p.m., a decision was made to maintain the status quo in terms of interest rates, and according to FedWatch statistics, the status quo is expected to last until June 2024.
Powell’s upcoming speech is expected to shed light on the chances for rate hikes and other macroeconomic developments over this time period.