{"id":76032,"date":"2023-03-22T21:08:00","date_gmt":"2023-03-22T19:08:00","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=76032"},"modified":"2025-09-10T15:03:04","modified_gmt":"2025-09-10T12:03:04","slug":"fed-raises-policy-rate-bitcoin-holds-above-28000","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/fed-raises-policy-rate-bitcoin-holds-above-28000\/","title":{"rendered":"Fed raises policy rate; Bitcoin holds above $28,000"},"content":{"rendered":"

On Wednesday, March 22, the U.S. Federal Reserve (the Fed) raised<\/a> the target range of the federal funds rate by 25 basis points, to 4.75-5%.<\/p>\n

The decision matched market expectations. According to the Fed, inflation in the United States remains elevated and further monetary tightening is warranted.<\/p>\n

\n

\u201cThe Committee aims to achieve maximum employment and inflation at 2% in the long run,\u201d the press release says.<\/p>\n<\/blockquote>\n

On March 14, the BLS<\/span> published<\/a> a consumer price index report. The index value overall matched forecasts\u2014 the February rise was 0.4% month-on-month and 6% year-on-year.<\/p>\n

The figures pointed to the persistence of price growth in the services components of the index. They were mentioned<\/a> by Fed Chair Jerome Powell as an obstacle to a broad decline in inflation in 2023.<\/p>\n

The cryptocurrency market reacted to the Fed decision with restraint. According to CoinGecko, prices of the largest by market capitalization digital assets did not show significant movement.<\/p>\n

\"Snimok-ekrana-2023-03-22-v-21.25.20-1\"
Data: CoinGecko.<\/figcaption><\/figure>\n

Ahead of the release, Bitcoin tested above $28,700. In the first minutes after the announcement, the price briefly rose above $28,800, but subsequently retraced to around $28,400.<\/p>\n

\"BTCUSDT_2023-03-22_21-24-53\"
Half-hour BTC\/USDT chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

At the time of writing, total market capitalization was up 0.6%.<\/p>\n

In March, Powell, during a hearing before Congress, stated<\/a> that there is a high probability of further tightening of monetary policy. However the collapse of U.S. banking institutions<\/a> and the Swiss investment bank Credit Suisse<\/a> forced investors to expect softer steps from the Fed<\/a>.<\/p>\n

Earlier, Glassnode analysts noted<\/a> a weekly rise of Bitcoin by 35.8% thanks to emergency measures by leading central banks after the loss of trust in financial institutions. regard Bitcoin as a safe asset<\/a>.<\/p>\n

Back in February, the Fed raised the target range by 25 basis points to 4.50-4.75%.<\/p>\n

The prices of the leading cryptocurrency rose<\/a> above $23,000.<\/p>\n","protected":false},"excerpt":{"rendered":"

On Wednesday, March 22, the U.S. Federal Reserve raised the target range of the federal funds rate by 25 basis points to 4.75-5%.<\/p>\n","protected":false},"author":1,"featured_media":76033,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1249,1224],"class_list":["post-76032","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-federal-reserve-system","tag-macroeconomics"],"aioseo_notices":[],"amp_enabled":true,"views":"18","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76032","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=76032"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76032\/revisions"}],"predecessor-version":[{"id":76034,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/76032\/revisions\/76034"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/76033"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=76032"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=76032"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=76032"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}