FED Announces the Much-Awaited Interest Rate Decision! Here are the Details and Bitcoin’s Initial Reaction!
FED kept interest rates unchanged as expected.
Now all eyes will be on the press conference that FED Chairman Jerome Powell will hold at 21:30 (UTC+3).
The decision comes immediately after President Donald Trump's unusual visit to the FED building in recent days. During his visit, Trump reiterated his call for lower interest rates.
For months, Trump has been sharply criticizing the FED’s interest rate policy. However, the FED continues to maintain a cautious stance by keeping rates steady for seven months. This approach is based on concerns that Trump's tariff policies could trigger inflation.
President Trump believes that interest rate cuts would accelerate economic growth and reduce the government's borrowing costs. In a speech last month, he intensified his criticism by referring to FED Chairman Jerome Powell, saying, "We have a guy who refuses to lower rates. Maybe I should appoint myself to the FED. I would do this job better than them." However, the FED is established as an independent institution by Congress, and it is not legally possible for Trump to appoint himself as FED chairman.
