January 31 US Federal Reserve System (FRS) saved the key rate range is 5.25–5.5% per annum.
The decision coincided with market expectations. Inflation has fallen over the past year but remains high, according to the Fed. The department also noted the low unemployment rate. Over the long term, the Fed aims for 2% inflation and maximum employment.
On January 11, the US Federal Bureau of Labor Statistics published a report on consumer prices. The index value turned out to be higher than market expectations – in annual terms, growth accelerated to 3.4%, in monthly terms it increased by 0.3%.
At the time of writing, the cryptocurrency market had almost no reaction to the news. According to CoinGeckoquotes of the largest digital assets by capitalization did not show significant dynamics.
Data: CoinGecko.
The price of the first cryptocurrency dropped below $43,500. At the time of writing, the total market capitalization remained above $1.7 trillion.
5-minute BTC/USDT chart of the Binance exchange. Data: TradingView.
Let us recall that in December 2023, the Fed kept the key rate at 5.25–5.5% per annum.
Subscribe to ForkLog on social networks
Found an error in the text? Select it and press CTRL+ENTER
ForkLog newsletters: keep your finger on the pulse of the Bitcoin industry!
2024-01-31 19:08:57
#Fed #key #rate #price #Bitcoin #remained #unchanged #ForkLog
