FOMC Decision November 2022: Fed Raises Interest Rate, Crypto Price

The Federal Reserve announced a rate raise by 75 basis points for the fourth consecutive meeting. Bitcoin, which initially saw a sharp decline following the Fed rate announcement, appears to be slowly recovering. In the last one hour, Bitcoin (BTC) is trading on a slight decline but the picture could soon turnaround. As of writing, BTC price stands at $20,694.54, up 1.20% in the ;ast 24 hours, according to price tracking platform CoinMarketCap.

The central bank, however, hinted at a potential slower pace, going forward.

The policy statement from Fed said,

“In determining the pace of future increases in the target range the committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation and economic and financial developments.”

Anvesh reports major developments around crypto adoption and trading opportunities. Having been associated with the industry since 2016, he is now a strong advocate of decentralized technologies. Anvesh is currently based in India. Follow Anvesh on Twitter at @AnveshReddyBTC and reach him out at [email protected]

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.