2023-03-23
Bitcoin prices fluctuate heavily. After the Federal Reserve announced a rate hike of just 0.25%, it also hinted that it might end the rate hike.
Bitcoin price movements have both ups and downs, as the Fed raised 0.25% as expected.
Ref: BITCOIN Price in USD: BTC Live Price Chart News (blocksky.io)
During the press conference, the Fed Chairman Mr. JEROME POWELL, it talks about the ongoing U.S. banking crisis and its
consequences. It hinted that today's rate hike could be the last.
Ref: Fed Chair Jerome Powell holds news conference following FOMC meeting
Powell said that the Fed believes that “events in the banking system over the past two weeks are likely to result in tighter credit conditions for households and businesses, which would in turn affect economic outcomes.”
“It is too soon to determine the extent of these effects, and therefore too soon to tell how monetary policy should respond,” he stated.
The Fed's statement said it had modified the term used in regard to its interest rate policy. From saying that "it will continue to rise at the next meeting" is to implement the policy as appropriate.
Ref: Holger Zschaepitz on Twitter
However, some critics see it as "the Fed has shown that they are committed to long-term rate hikes + inflation remains the No. 1 enemy," Tedtalksmacro wrote on Twitter.