Bitcoin Price Forecast Post FOMC Meeting; Which Way Is It Headed?
Join Our Telegram channel to stay up to date on breaking news coverage Even after the Federal Reserve’s interest rate announcement, the European session Bitcoin price forecast is optimistic. On Wednesday, the Federal Reserve announced yet another rate rise; this time by a full 0.75 percentage points more than the previous two, in an effort to reduce inflation. While a hike in interest rates will help curb inflation by preventing people from acquiring additional debt, it will also force many Americans, who are having a hard time keeping up with the growing cost of living, to pay more each month just to stay up with their debt service payments. No Signs of a Reduction in Inflation In order to combat inflation, the Federal Reserve has raised interest rates by 0.75 percentage points. When Fed Chair Jerome Powell said it was too soon to talk about putting a temporary stop to the hikes, the market responded badly. Although it has decreased from its 9.1% high in June to its 8.