Bitcoin Price Unfazed as US Federal Reserve Announces Decision on Interest Rates

The United States Federal Reserve decided to keep general interest rates unchanged at 4.25% to 4.5% – a move that was largely expected by the broader market.

In fact, as BitcoinLinux reported yesterday, more than 98% of the volume on Polymarket regarding potential rate cuts was betting on “no change.” As a reminder, the odds are are considerably higher for the Fed’s decision during September’s FOMC meeting when 41% of the traders expect the institution to cut rates by 25 basis points.

The Fed’s decision comes amid mounting political pressure as President Donald Trump continues with his questionable rhetoric calling

Chairman Jerome Powell “stupid,” earlier today.

https://twitter.com/Crypto_Potato/status/1935397323074584936?ref_src=twsrc%5Etfw” data-wpel-link=”external” target=”_blank” rel=”nofollow noopener

“So, we have a stupid person. Frankly, you probably won’t cut today. […] Europe had 10 cuts and we had none. And I guess he’s a political guy, I don’t know. He’s a political guy who’s not a smart person, but he’s costing the country a fortune.”

Meanwhile, Bitcoin’s price has remained largely steady following the decision and currently trades at around $104,200.

It’s also worth noting that the FOMC update also included a few additional remarks by the institution. Namely:

• Ups inflation forecast to 3%
• Cuts 2025 GDP forecast to 1.4%
• Sees 50bps in cuts this year
• Rates projected at 3.6% in 2026 and 3.4% in 2027

The post Bitcoin Price Unfazed as US Federal Reserve Announces Decision on Interest Rates appeared first on BitcoinLinux.