Federal Reserve Chairman Jerome Powell said Wednesday that the central bank will begin raising interest rates “cautiously” at its March meeting to balance high US inflation with the complex new risks of a European land war, but will be prepared to act more aggressively in the event of inflation. . In this article, we take a look at the Fed’s 2022 meeting schedule, which could directly impact the Bitcoin and altcoin market.
The Fed will hold a meeting on these dates
As we reported as Kriptokoin.com, Jerome Powell’s statements in the last hearing by the US House of Representatives Financial Services Committee have had a number of positive effects in the crypto money market. opened. Therefore, the following Fed meeting date can be taken into account when evaluating Bitcoin and altcoin investment strategies.
- March 15-16
- May 3-4
- June 14-15
- July 26-27
- September 20-21
- November 1-2
- December 13-14
The effect of interest rates on Bitcoin and altcoin market
In September, investors had two views on Bitcoin (BTC) and altcoins, centered around how cryptocurrencies traded at critical support levels would react to the Fed meeting. Both optimistic and pessimistic observers have alternative explanations for the situation. The Federal Reserve’s statements that inflation is only temporary and its policy of low interest rates has increased demand for riskier assets in both the stock and cryptocurrency markets in recent months. This was the time when significant price increases were seen in this environment. On the other hand, the chart below is of Bitcoin (BTC), which lost 5% after the Fed meeting on January 6, 2022.
What was said at the last Fed meeting?
At the Fed meeting Wednesday, Chairman Jerome Powell described Russia’s invasion of Ukraine as a “game changer” that could have unforeseen consequences. He said the Fed will support a quarter-point rate hike at its March 15-16 meeting, effectively ending discussions on launching a post-pandemic round of rate hikes with a larger-than-normal half-point increase.
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