$BTC The Federal Reserve maintains rates, but warns of persistent inflation

Summary:

The U.S. Federal Reserve (FOMC) decided on May 1 to keep interest rates between 5.25% and 5.50%, as expected. However, Chairman Jerome Powell warned about the lack of significant progress on inflation during the first 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 for the 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