The US central bank, the Fed, has announced its highly anticipated interest rate decision. The Fed increased the interest rate by 0.75 basis points. Gold and Bitcoin price suddenly rose with the FED decision. FED Chairman Jerome Powell is holding a press conference half an hour after the announcement. Eyes on Jerome Powell’s statements… cryptocoin.comWe have compiled all the details for you, let’s examine the explanations together… The article will be constantly updated with new statements from the FED Chairman. Update the page constantly so you don’t miss the explanations!
The FED President is speaking: Gold and Bitcoin investors’ eyes are on these statements!
The US central bank, the Fed, announced its expected interest rate decision. The FED had increased the interest rate by 75 basis points in its previous meeting, and with this decision, the FED broke new ground after 28 years. At today’s meeting, the Fed increased the interest rate by 0.75 basis points again. FED increased the policy rate to 2.25%-2.50% range. The Fed took the decision to increase interest rates by 75 basis points unanimously. The FED reiterated that it would monitor inflation risks very carefully and emphasized that continued interest rate hikes would be appropriate.
FED also reported that the rate of contraction of the balance sheet continues as announced. The bank also reiterated its “strong commitment” to reduce inflation to 2 percent. The Fed raised the interest on excess reserves from 1.65% to 2.40%. Gold and Bitcoin price suddenly went up with the FED decision. Now, Fed Chairman Jerome Powell is speaking. FED Chairman Jerome Powell is holding a press conference half an hour after the announcement of the interest rate decision. Jerome Powell’s first statements are as follows:
- We remain committed to our strong commitment to reduce inflation to 2 percent.
- We will be prepared to adjust the monetary policy stance appropriately should risks arise that could prevent the FED from reaching its targets.
- It is of primary importance for us to reduce inflation to 2.3 percent.
- There is a slowdown in economic activity, but demand remains strong.
- The labor market is tight, inflation is very high.
- Continuing interest rate hikes is appropriate to reduce inflation.
- The size of the rate hikes will depend on incoming data.
- It would be appropriate to slow down the rate hikes at some point.
- We do not hesitate to take bigger steps if necessary.
- Growth below trend may be necessary to reduce inflation.
- If deemed necessary, the Fed would raise rates by more than 75 basis points.
- More additional interest rate hikes may come.
