The post Crypto Markets Surge as FED Hints 2024 Rate Cuts appeared first on Coinpedia Fintech News
Following a sudden downturn on Monday, Bitcoin swiftly rebounded, soaring past the $43,000 mark by Wednesday. The recent strong signals from the U.S. Federal Reserve hinting at forthcoming interest rate drops have significantly contributed to the surge in cryptocurrencies and digital asset stocks.
Fed’s Role in Bitcoin’s Rally?
The Federal Reserve on Wednesday held its key interest rate steady for the third straight time and set the table for multiple cuts to come in 2024 and beyond. “We’re fully committed to returning inflation to our 2% goal,” Fed Chair Jerome Powell said. https://t.co/yy0qOv80XN pic.twitter.com/q3bXkEhIUi
— CNBC (@CNBC) December 13, 2023
During December’s pivotal meeting, the Federal Open Market Committee (FOMC) chose to maintain the benchmark U.S. Fed rate between 5.25% and 5.5%. Yet, a noteworthy shift emerged in their future projections, signaling a dovish
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