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What the Fed's Rate Decision This Week Means for Bitcoin and the Dollar
Source: CryptoNewsNet Original Title: Here’s what Fed’s highly anticipated rate decision this week means for bitcoin and the dollar Original Link: The Federal Reserve is set to announce its rate decision, and almost no one expects it to cut rates.
However, traders will be paying very close attention to Chairman Jerome Powell’s post-meeting press conference, which could hold the real intrigue.
His take on what to expect in the coming months and on recent hot topics, including affordability policy push and threats to the Fed’s independence, could move both traditional and crypto markets.
Let’s dig into what is priced in and how Powell’s comments could move markets.
Status quo on rates
After delivering three back-to-back quarter-point cuts, the central bank is expected to stand pat on Wednesday. As of Friday, CME’s FedWatch futures priced in a 96% chance of the Fed holding steady at 3.5%-3.75%.