#FOMCMeeting The Federal Reserve maintains rates, but warns about persistent inflation
Summary:
The U.S. Federal Reserve (FOMC) decided on May 1 to maintain interest rates between 5.25% and 5.50%, as expected. However, Chairman Jerome Powell warned about the lack of significant progress in inflation during the early months of the year, which could delay the anticipated rate cuts.
Impact on the crypto market:
Bitcoin briefly fell below $59,000 after the announcement.
The dollar strengthened, putting pressure on risk assets.
The expectation of a first rate cut has now shifted to late 2025.
Highlighted quote:
"We do not see enough progress on inflation to justify a cut at this time." — Jerome Powell, Chairman of the Fed
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