As a seasoned crypto investor with a keen interest in global financial markets, I’m closely watching the ongoing Federal Reserve System (Fed) meeting that started on April 30, 2024. The anticipation surrounding this event is palpable, as the Fed’s decision on interest rates could significantly impact various sectors, including cryptocurrencies.
Two Federal Reserve System meetings have taken place in the year 2024 preceding the one happening now on April 30th. This current meeting, officially known as the Federal Open Market Committee (FOMC) gathering, commenced on this day and will continue for a span of two days. During these sessions, the committee will deliberate over key matters such as interest rates.
As a crypto investor, I’m keeping a close eye on the ongoing Federal Reserve meeting, eagerly anticipating the outcome that could potentially impact interest rates. The reported US inflation rate for March stood at approximately 3.5%, which is notably higher than the Federal Reserve’s target of maintaining a 2% inflation rate in the future.
Some individuals have proposed the possibility of raising interest rates by a quarter point following this gathering. These interest rates carry significant influence over the US dollar‘s worth, oil prices, trading markets, and various other factors.
Based on current inflation trends over the past three months, finance specialists predict that the inflation rate could reach approximately 4.5% by March 2025 if these trends persist throughout the entirety of 2024.
Fed Meeting Begining And Result Timings
As a researcher, I’m following the ongoing Federal Reserve meeting headed by Jerome Powell. The interest rate we’ve set currently is at its highest mark in the last 23 years. By 2 p.m. European Time on May 1st (11:30 pm Indian Standard Time), we will release the outcome of our deliberations.
As a researcher, I would phrase it this way: Investors anticipate no change in the current interest rates, but the public remains curious and eager for any potential news regarding rate adjustments from the central bank.
What To Expect From April’s Fed Meeting?
At the upcoming Fed meeting, unlike the last one, there will be no sharing of predictions regarding interest rate changes in the coming years. In the previous session, it was indicated that there could potentially be three rate reductions in 2024. However, during this meeting, Jerome Powell and the Federal Reserve team will only provide insights following their announcements.
During a recent gathering, Federal Reserve Chairman Jerome Powell indicated that rates may remain elevated while the Fed carefully examines signs of inflation approaching its 2% goal.
Analysts anticipate that the Federal Reserve will keep the federal funds rate at its present level between 5.25% and 5.50% in their final prediction. Nevertheless, there could be a shift in the policy statement.
The oracle of the FOMC @NickTimiraos says “No change in the Fed Funds rate” at the two day meeting
— Gary Haubold (@GaryHaubold) April 30, 2024
Conclusion
This year, the Federal Reserve has revealed the plan for eight scheduled meetings, with two having already been completed and the third one currently underway. Although the Fed previously signaled their intention to reduce interest rates three times in 2023, the likelihood of a cut during the April meeting is considered less likely by investors. Instead, they anticipate that the interest rate will remain unchanged for the time being.
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2024-04-30 17:04