The US Fed rate hike decision will be announced on March 22, 2023 at 2 pm EST (Eastern Standard Time) followed by a press conference.
Those following the Indian Standard Time (IST) would be able to watch US Fed FOMC Meeting March 2023 live and Fed Chair Jerome Powell's interest rate announcement at around 11:30 PM to 12:30 AM on the intervening night of Wednesday-Thursday.
The Federal Open Market Committee (FOMC) is the policymaking body of the Federal Reserve System that determines the course of monetary policy in the United States. The FOMC meets eight times a year to review economic and financial conditions and decide whether to adjust interest rates or other monetary policy measures.
The FOMC's decisions can have a significant impact on financial markets, including the price of Bitcoin. This is because changes in monetary policy can affect the supply and demand for money, which in turn can influence the value of Bitcoin and other assets.
For example, if the FOMC decides to increase interest rates, this can make borrowing more expensive and slow down economic growth. This could lead investors to sell riskier assets like Bitcoin and shift their money into safer investments like bonds or savings accounts.
On the other hand, if the FOMC decides to lower interest rates, this can stimulate economic activity and encourage investors to take on more risk. This could lead to increased demand for Bitcoin and other assets.
Overall, the effect of FOMC meetings on the price of Bitcoin is complex and depends on a variety of factors, including the current state of the economy, investor sentiment, and global geopolitical developments. It's important to remember that Bitcoin is a relatively new and volatile asset, and its price can be influenced by a wide range of factors beyond monetary policy.
FOMC MEETING EFFECT ON BITCOIN PRICE IN PAST YEARS
The relationship between the FOMC meetings and the price of Bitcoin is complex and can vary depending on various factors such as the state of the economy, investor sentiment, and global geopolitical developments. However, we can look at some past examples to gain insight into how FOMC meetings have affected Bitcoin prices in the past.
One notable example is the FOMC meeting in December 2015 when the Federal Reserve raised interest rates for the first time in nearly a decade. Following the announcement, the price of Bitcoin fell by more than 10% over the next few days as investors shifted their money towards traditional investments such as bonds and stocks.
Similarly, in March 2018, the Federal Reserve raised interest rates, and the price of Bitcoin dropped by around 6% in the following days. However, in September 2019, the Fed lowered interest rates, and the price of Bitcoin rose by around 2% in the following days.
It's worth noting that other factors can also affect the price of Bitcoin, and it is difficult to attribute changes solely to the FOMC meetings. Nonetheless, there have been instances where changes in monetary policy have had a noticeable impact on the price of Bitcoin.
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