Posted 1/31/2024, 7:08:00 PM
Fed Holds Rates Steady, Signals Less Likelihood of March Cut While Awaiting Clear Inflation Drop
- Fed holds rates steady at 5.25%-5.50% at January meeting, but signals a March cut is less likely
- Fed wants greater confidence inflation is falling before cutting rates
- Prior to announcement, markets had priced in 65% chance of March cut, now trimmed to 50%
- Bitcoin price little changed after announcement, still around $43,500 over past weeks
- Democratic Senators recently urged Fed to cut "astronomical rates" to spur economy