“Markets React to Fed’s Decision: Oil, Gold, Crypto, and Bonds”

Investing.com – Interest rates rose in an expected decision. The Fed’s statement was issued to include many indications that the interest rate hike may stop in the upcoming meetings.

This comes amid a banking crisis that led to the bankruptcy of 3 well-known banks in 2023, the last of which was First Republic Bank, which was acquired by JP Morgan after the US financial authorities seized the troubled bank.

Powell denied the intention of the Fed members to cut interest rates in 2023, saying that he believes that maintaining high levels will help lower inflation, stressing that this will not be the decision if events continue normally without something else happening.

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The Fed’s statement and its president’s speech expected the US economy to fall into recession due to the increase in credit restrictions. The Fed deleted the phrases indicating more future interest rate hikes.

Federal Reserve Chairman Jerome Powell said that it has not been settled to stop raising interest rates, but that the decision will be taken at each meeting separately without prior decisions and targets.

The Fed Chairman added that the Fed always has to balance many things, including reducing inflation towards the targeted 2% levels, causing a strong crisis in the economy and leading it to recession.

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Markets now..How does the dollar and US indices interact?

The American fell by 0.61%, to 101.125, against a basket of foreign currencies. The 10-year yield also fell by 1.15% to 3.399%, and the two-year Treasury yield fell to 3.9387%, down by 0.52%.

Spot gold contracts rose by 0.29% to $2,022.3 an ounce, and gold futures rose to $2,030.45, up 0.36%. It is now up 0.28% to $25,690 an ounce.

It is now rising by 0.69%, reducing its gains, after rising by a full point a few minutes ago, while it rose by 0.35% and settled at 33684.51 without movement.

It fell by a full point to trade now at $28,430.5, while Ethereum rose by 0.85%, to record $1,886.48.

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