Interest Rates Unchanged, Crypto Markets Reacting With Bullish Momentum!

🇺🇸🏦 The highly anticipated FOMC meeting has concluded with Jerome Powell announcing unchanged interest rates for the time being. However, there were a few key (mostly encouraging) takeaways that have led to crypto and equities reacting positively after the news was announced:

📌There are still two rate cuts expected to occur later on this year, with expectations of continued higher inflation and lower economic growth.

📌The U.S. economy growth is now expected to be +1.7%, as opposed to the projection of +2.1% which was made in December.

📌Jerome Powell stated that the low growth projection, combined with high expected continued inflation, are balancing each other out.

📌Powell says that the US tariffs could delay the goal of decreasing inflation.

📌In the Fed's eyes, there is a slightly higher estimated likelihood of a recession under these current economic circumstances.

Look for cryptocurrency markets to closely mirror the SP 500 throughout the indefinite future, though individual altcoins can continue to see increased unpredictability and volatility.