📢Good news! The Fed may keep interest rates at current levels for longer! 🎉"Fed Mouthpiece" Nick Timiraos recently wrote that Fed officials came to this conclusion at a recent meeting. This is because, last month, US inflation data disappointed for the third consecutive month. 😔

While officials still believe that interest rates are high enough to curb economic activity and reduce inflation, they are less sure about the extent of policy restrictiveness. 🤔If inflation risks make tightening policy justified, they are willing to tighten policy further.

Price pressures slowed significantly in the second half of last year, and Fed officials hinted in March that they might be ready to start cutting interest rates if there was another month or two of mild inflation. But a series of data in the first quarter showed that price pressures in the economy are heating up, and unless the job market weakens unexpectedly, the Fed has been forced to shelve any considerations of starting to cut interest rates in the coming months. 📈

This could be good news for Bitcoin. Because if the Fed keeps interest rates unchanged, it could trigger investors to turn their funds to cryptocurrencies such as Bitcoin. 🚀