Fast Take
- The Federal Reserve raised the federal funds charge by 25bps.
- This took the federal funds charge to 4.75 – 5%
- Upon the announcement, Bitcoin’s value has stayed comparatively flat at $28,500.
- The Fed sees 5.1% on the median dot plot for the top of 2023 and 4.3% for the top of 2024.
- The Fed additionally expects yet one more charge hike.
- The Fed is dropping “ongoing charge hikes” from statements and says the US banking system is sound and resilient.”
- All eyes are actually on Powell who might be discussing the brand new Fed Dot Plot and financial projections at 6:30 PM GMT.
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