US Federal Reserve Chairman Jerome Powell announced a further reduction in the key rate to stimulate economic growth and increase employment, reports WSJ.
According to the top official, despite the current economic challenges, the overall situation in the country remains stable and inspires cautious optimism regarding future prospects.
He noted that a sharp change in the indicator, like last time, is not required. According to Powell, two cuts of 25 bps are possible in 2024. each.
On September 18, the Fed changed the key rate range to 4.75–5% per annum. The decline in the indicator occurred for the first time since March 2020.
The cryptocurrency market reacted positively to the easing of monetary policy in the United States.
Previously, FalconX experts named the advantages of lowering the key rate for Ethereum.
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Source: Cryptocurrency
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