The Federal Reserve has agreed to raise interest rates by an additional 25 bps to 3.75–4.00%. This is the first increase since July 2023, with 16 out of 18 officials expected to have at least one more rate hike later this year.
Market reaction
The crypto market moved contrary to expectations—BTC surged past the $85,000 mark, and total crypto market capitalization rose by around 6% to $2.9 trillion, indicating that this increase had already been priced in.
Outlook
Finance Minister Bessent said that rates should be cut when the conflict in Iran ends, signaling the likelihood of policy easing in the future.
Market reaction
The crypto market moved contrary to expectations—BTC surged past the $85,000 mark, and total crypto market capitalization rose by around 6% to $2.9 trillion, indicating that this increase had already been priced in.
Outlook
Finance Minister Bessent said that rates should be cut when the conflict in Iran ends, signaling the likelihood of policy easing in the future.