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 S&P 500 throughout the indefinite future, though individual altcoins can continue to see increased unpredictability and volatility.