After a two-day meeting, the Federal Reserve opted not to raise interest rates, keeping them unchanged for the sixth time since March 2022. The central bank highlighted persistent inflation and a healthy labor market as factors for the halt. Officials underlined a cautious approach, indicating no rate cuts until inflation consistently approaches the 2% target.
The decision had little impact on stock and cryptocurrency prices. Bitcoin and Ether both saw slight movements following the announcement, trading around the $58.5K and the $2.9K mark, respectively. Meanwhile, the Nasdaq and S&P 500 edged up, capping a gloomy trading session on a positive note.
Market watchers are now looking for indications from Fed Chair Jerome Powell on future rate cuts, with estimates of a 9% reduction in June.
