{"id":78256,"date":"2023-05-03T21:17:46","date_gmt":"2023-05-03T18:17:46","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=78256"},"modified":"2025-09-11T03:57:47","modified_gmt":"2025-09-11T00:57:47","slug":"fed-raises-key-rate-bitcoin-holds-above-28500","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/fed-raises-key-rate-bitcoin-holds-above-28500\/","title":{"rendered":"Fed raises key rate; Bitcoin holds above $28,500"},"content":{"rendered":"

On Wednesday, May 3, the U.S. Federal Reserve (Fed) \u043f\u043e\u0432\u044b\u0441\u0438\u043b\u0430<\/a> the target range for the federal funds rate by 25 basis points, to 5\u20135.25% per annum.<\/p>\n

The decision came in line with market expectations. The Fed said inflation in the United States remains elevated. It remains committed to returning the inflation rate to 2%.<\/p>\n

\n

\u201cEconomic activity grew at a modest pace in the first quarter. Hiring has been resilient in recent months, and the unemployment rate has remained low. Inflation remains elevated,\u201d the press release said.<\/p>\n<\/blockquote>\n

On April 12, the U.S. Bureau of Labor Statistics published<\/a> the consumer price report. The index reading came in slightly above analysts’ expectations \u2014 up 0.1% month over month and 5% year on year.<\/p>\n

Both stock and crypto markets reacted to the news in a subdued fashion. According to CoinGecko, the prices of the largest-cap digital assets did not show significant movement.<\/p>\n

\"Snimok-ekrana-2023-05-03-v-21.23.28\"
Data: CoinGecko<\/a>.<\/figcaption><\/figure>\n

At the time of writing, the total market capitalization of digital assets stood at $1.23 trillion.<\/p>\n

\"Snimok-ekrana-2023-05-03-v-21.13.47\"
Five-minute BTC\/USDT chart on Binance. Data: TradingView<\/a>.<\/figcaption><\/figure>\n

Earlier, Fed Chair Jerome Powell, in a congressional appearance, said<\/a> there was a high likelihood of further tightening of monetary policy. However, the collapse of American credit institutions<\/a> and the Swiss investment bank Credit Suisse<\/a> prompted investors to expect softer steps from the regulator.<\/p>\n

Earlier, in February, the Fed raised the target range by 25 basis points to 4.5\u20134.75% per annum. Bitcoin prices reacted<\/a> by rising above $23,000.<\/p>\n

In March, Bitcoin held above $28,000 on the back of the Fed’s decision to raise rates<\/a> to 4.75\u20135% per annum. By the end of the month, Bitcoin tested above $29,000<\/a>.<\/p>\n","protected":false},"excerpt":{"rendered":"

On Wednesday, May 3, the U.S. Federal Reserve raised the target range for the federal funds rate by 25 basis points to 5\u20135.25% per annum.<\/p>\n","protected":false},"author":1,"featured_media":78257,"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-78256","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":"19","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78256","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=78256"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78256\/revisions"}],"predecessor-version":[{"id":78258,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/78256\/revisions\/78258"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/78257"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=78256"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=78256"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=78256"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}