The Fed left interest rates unchanged, as expected.
All eyes will now be on FED Chairman Jerome Powell’s press conference at 21:30 (UTC+3).
Bitcoin’s reaction after the decision was as follows:
The decision comes on the heels of President Donald Trump’s unusual recent visit to the Federal Reserve, during which he reiterated his call for lower interest rates.
Trump has been harshly criticizing the Fed’s interest rate policy for months. However, the Fed has maintained a cautious stance, holding interest rates steady for seven months. This approach stems from concerns that Trump’s tariff policies could fuel inflation.
President Trump believes that interest rate cuts will boost economic growth and lower government borrowing costs. Last month, in a speech, he sharpened his criticism of Fed Chair Jerome Powell, saying, “We have a man who refuses to lower interest rates. Maybe I should appoint myself to the Fed. I would do a better job than them.” However, the Fed was established by Congress as an independent institution, and Trump is legally unable to appoint himself as Fed chair.
*This is not investment advice.