The FOMC decision just came out (Beijing time, 02:00): no change, with the federal funds target range still at 3.75%–4.00%.
Markets had largely priced in a hold going into the meeting, and the Fed didn’t raise rates. The vote was 10–2: Cook and Hammack both wanted a 25-basis-point hike, dissenting on the hawkish side.
In plain English, the statement said a few things: inflation remains elevated; the Fed wants to gather a little more information before deciding what to do next; and economic activity was described as “expanding strongly” (a bit stronger than “solid” last time). This wasn’t a dot plot meeting.
The market reaction was a classic “in line with expectations”: in the two minutes after the decision, BTC jumped from around 80,860 to 81,144 (about +0.4%), then gave back its gains and is now near 80,740—slightly below its pre-decision level. ETH popped to around 2,356, then returned to around 2,340. The brief rally quickly fizzled.
The decision itself held no surprises. The real thing to listen for is the Chair’s press conference at around 02:30—especially what they say about the path to December.
Do you think this is a pause to steady things, or will expectations of a December hike start rising again?
Follow me—I’ll share any new signals from the press conference.
Personal opinion, not investment advice.
Markets had largely priced in a hold going into the meeting, and the Fed didn’t raise rates. The vote was 10–2: Cook and Hammack both wanted a 25-basis-point hike, dissenting on the hawkish side.
In plain English, the statement said a few things: inflation remains elevated; the Fed wants to gather a little more information before deciding what to do next; and economic activity was described as “expanding strongly” (a bit stronger than “solid” last time). This wasn’t a dot plot meeting.
The market reaction was a classic “in line with expectations”: in the two minutes after the decision, BTC jumped from around 80,860 to 81,144 (about +0.4%), then gave back its gains and is now near 80,740—slightly below its pre-decision level. ETH popped to around 2,356, then returned to around 2,340. The brief rally quickly fizzled.
The decision itself held no surprises. The real thing to listen for is the Chair’s press conference at around 02:30—especially what they say about the path to December.
Do you think this is a pause to steady things, or will expectations of a December hike start rising again?
Follow me—I’ll share any new signals from the press conference.
Personal opinion, not investment advice.
