The Federal Reserve, as expected, kept interest rates unchanged.
All attention is now focused on the press conference of Federal Reserve Chairman Kevin Warsh, scheduled for 21:00 (14:30 Eastern Time).
Here is Bitcoin's reaction to the interest rate decision:
The new Federal Reserve Chairman, Kevin Warsh, like his predecessor Jerome Powell, has repeatedly emphasized the importance of controlling inflation. Some investors believe Warsh has taken a tougher stance on inflation than expected.
Although interest rate cuts were expected during Warsh's tenure as the Fed Chair appointed by Trump, market expectations that the central bank might raise interest rates by the end of the year have strengthened.
Trump frequently criticized the Fed Chair on social media, claiming that interest rates were not being lowered quickly enough during Powell's tenure and even threatened his removal. However, despite no significant changes in the Fed's decision-making approach since Warsh took office, Trump's attacks on the central bank chief have ceased.
Michael Reynolds, Vice President of Investment Strategy at Glenden, noted the similarity between the two Federal Reserve Chairmen, stating: "There is considerable continuity between the two chairmen."
*This is not an investment recommendation.
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