The Federal Reserve’s (Fed) decision to raise the Federal Funds Rate (FFR) by 25 basis points to 5.50%, the highest level since February 2021, had little impact on the cryptocurrency market and Bitcoin (BTC), with the event described as “very vanilla” by the Journalist Ted Talks Macro. The FOMC indicated that achieving its 2% inflation target still has a long way to go and that it will take a data-dependent approach to future rate hikes. While some investors had been hoping for a more hawkish tone from the Fed, the central bank’s cautious approach was seen as a sign that it is still concerned about the potential impact of its monetary policy on the broader economy. Related Reading: Singaporean Judge Declares Crypto Is Personal Property In ByBit Case According to Ted, the full effect of tightening is yet to be felt, and getting back to the inflation target may require below-trend growth and labor market softening. Despite the Fed’s decision to raise rates, they may raise them again in September, depending on the data. The Fed’s decision to ..
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