#Bitcoin Remains Stable as Markets Await Fed Decision
The U.S. Federal Reserve is holding its two-day meeting to determine the direction of the country's interest rates.
Most experts predict that the Fed will keep rates at the level of 4.25-4.50% when the central bank's chairman, Jerome Powell, emerges from the two-day Federal Open Market Committee (FOMC) meeting tomorrow. But U.S. President Donald Trump is the unexpected variable in that prediction, as he has applied immense pressure on Powell to lower rates or resign. Stock indices were mixed and bitcoin remained mostly stable at $117K on Tuesday, as markets prepared for what will likely be a politically charged day when Powell addresses the nation in his scheduled press conference tomorrow.
Trump has not held back in expressing his feelings towards the Fed chairman. Powell has frequently been the target of Trump's jokes and insults. The president intensified his stance when, just last week, he made a personal visit to the Fed's headquarters and publicly reprimanded the 72-year-old former lawyer and investor for mismanaging a $2.5 billion renovation of the central bank's buildings.