As the crypto market has gone through volatile trading lately, all eyes are now on the potential outcomes of the Federal Open Market Committee (FOMC) meeting later today. Meanwhile, market expectations lean towards maintaining current interest rates, but the real intrigue lies in the Fed officials’ projections for the coming year.
Notably, the analysts predict a cautious approach amid a strong labor market and persistent inflation, with the focus shifting to potential rate cuts in 2024.
Interest Rates Hold Steady, But What Lies Ahead?
Given the robust labor market and cooling inflation data, the Federal Reserve is anticipated to keep interest rates unchanged. The latest U.S. Consumer Price Index (CPI) data showed that the inflation has slowed to 3.1% in November, in line with the market anticipation.
Meanwhile, Gargi Chaudhuri of BlackRock suggests a cautious “pause” from the Fed, emphasizing the need to observe the economy’s reaction to existing restrictive rates, according to
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