The price of Bitcoin, the leading cryptocurrency, remains flat following the latest pricing decisions. The major cryptocurrency is currently changing its hands at $84,231 on Bitstamp Exchange. Cryptocurrency is still up about 1.5%.
The Fed has not changed its key interest rates in a range of 4.25-4.50%, in line with analyst expectations.
The latest statement from FOMC states that “uncertainty about the economic outlook is increasing.”
It is worth noting that four Fed officials are hoping to cut zero rates in 2025. The median forecast shows interest rate cuts of 50 basis points this year.
The central bank has also significantly reduced its 2025 GDP growth forecast to just 1.7%.
“As expected, the Fed did not change interest rates, Qt. Qt. Officials increased their inflation forecasts and lowered their growth forecasts. Both were insignificant and increased inflation growth.”
