US FOMC to Announce Rate Hike Pause: Bitcoin Rally Ahead?

FOMC FED

The US Federal Open Market Committee (FOMC) is anticipated to maintain the target range for the federal funds rate at 5.25%-5.5%. Wall Street expects the Fed to announce a “pause” in rate hikes.

Cryptos Headlines Token Airdrop Is Live, Claim $50 Worth Of 5000 CHT Token Free On CryptosHeadlinesToken.com

The US Federal Reserve’s Federal Open Market Committee (FOMC) is gearing up for its rate hike decision this Wednesday. The FOMC is expected to maintain the federal funds rate target range at 5.25%-5.5%, which marks a 22-year high.



Fed Chair Jerome Powell has signaled that as the rate hikes near their conclusion, the committee will assess their impact. Despite inflation still exceeding the Fed’s 2% target, the FOMC is poised to announce a “pause” for the second time this year. However, if inflation increases, the Fed could consider a 25 bps rate hike at year-end.

In July, the Fed’s preferred inflation gauge, the annual PCE rate, rose to 3.3% from 3% in June, while the job market experienced a cooling effect, resulting in a rise in the unemployment rate.

Major Wall Street institutions, including JPMorgan, Goldman Sachs, Morgan Stanley, Barclays, BNP, BMO, Bloomberg, Nomura, RBC, and Wells Fargo, have forecasted a pause, while Raymond James and Mizuho expect a 25 bps hike.

The CME FedWatch Tool indicates a 99% probability of a pause at the upcoming FOMC meeting on September 20. Meanwhile, the US dollar index (DXY) remains above 105, which could exert downward pressure on BTC prices.

Cryptos Headlines Token Airdrop Is Live, Claim $50 Worth Of 5000 CHT Token Free On CryptosHeadlinesToken.com

Bitcoin Approaches $30,000.

BTC price has experienced a 1% increase over the last 24 hours, reaching a current trading value of $27,144. The price’s 24-hour range spans from a low of $26,918 to a high of $27,488. However, price volatility persists as the market anticipates the Federal Reserve’s monetary policy decision.



Bitcoin has seen a 5% rise within the past week, with traders anticipating a substantial upward momentum following the FOMC meeting. This could potentially rekindle bullish sentiment, supported by improved technical chart patterns.

Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

Join Cryptos Headlines Community

Follow Cryptos Headlines on Google News

Author

  • Salim

    "Salim is a news writer at CryptosHeadlines who creates excellent, well-optimized content to ensure user satisfaction. He is skilled in forecasting News About Cryptocurrency Market & blockchain Industry."

Leave a Reply

Your email address will not be published. Required fields are marked *