The post HOT MOMENTS: FOMC Statement Released Following the Fed Interest Rate Decision – Here Are All the Details of the Full Text appeared on BitcoinEthereumNews.com. The Fed has resumed interest rate cuts after a nine-month hiatus, lowering the federal funds rate by 25 basis points to a range of 4% to 4.25%. According to the “dot plot” projection reflected in the decision text, two additional interest rate cuts are envisaged in 2025. While 9 out of 19 officials expected two more interest rate cuts this year, 2 predicted a single cut, and 6 predicted no additional cuts. Newly appointed Fed Board member Stephen I. Miran dissented from the decision, voting for a stronger 50 basis point cut. The decision noted that economic growth slowed in the first half of the year, employment growth slowed, and the unemployment rate rose slightly. It also noted that inflation had begun to rise but remained high. While reiterating that it maintains its long-term targets of maximum employment and 2% inflation, the Fed noted that uncertainties regarding the economic outlook remain high. The statement read, “The Committee assesses that downside risks to employment have increased, in line with the balance of risks.” The statement stated that interest rate policy will be reshaped in the coming period, taking into account future data, the economic outlook, and the balance of risks. It also noted that the reduction in holdings of Treasury bonds, corporate debt instruments, and mortgage-backed securities will continue. The resolution was supported by Fed Chair Jerome Powell, Vice Chair John C. Williams, and board members Michael S. Barr, Michelle W. Bowman, Susan M. Collins, Lisa D. Cook, Austan D. Goolsbee, Philip N. Jefferson, Alberto G. Musalem, Jeffrey R. Schmid, and Christopher J. Waller. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/hot-moments-fomc-statement-released-following-the-fed-interest-rate-decision-here-are-all-the-details-of-the-full-text/The post HOT MOMENTS: FOMC Statement Released Following the Fed Interest Rate Decision – Here Are All the Details of the Full Text appeared on BitcoinEthereumNews.com. The Fed has resumed interest rate cuts after a nine-month hiatus, lowering the federal funds rate by 25 basis points to a range of 4% to 4.25%. According to the “dot plot” projection reflected in the decision text, two additional interest rate cuts are envisaged in 2025. While 9 out of 19 officials expected two more interest rate cuts this year, 2 predicted a single cut, and 6 predicted no additional cuts. Newly appointed Fed Board member Stephen I. Miran dissented from the decision, voting for a stronger 50 basis point cut. The decision noted that economic growth slowed in the first half of the year, employment growth slowed, and the unemployment rate rose slightly. It also noted that inflation had begun to rise but remained high. While reiterating that it maintains its long-term targets of maximum employment and 2% inflation, the Fed noted that uncertainties regarding the economic outlook remain high. The statement read, “The Committee assesses that downside risks to employment have increased, in line with the balance of risks.” The statement stated that interest rate policy will be reshaped in the coming period, taking into account future data, the economic outlook, and the balance of risks. It also noted that the reduction in holdings of Treasury bonds, corporate debt instruments, and mortgage-backed securities will continue. The resolution was supported by Fed Chair Jerome Powell, Vice Chair John C. Williams, and board members Michael S. Barr, Michelle W. Bowman, Susan M. Collins, Lisa D. Cook, Austan D. Goolsbee, Philip N. Jefferson, Alberto G. Musalem, Jeffrey R. Schmid, and Christopher J. Waller. *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/hot-moments-fomc-statement-released-following-the-fed-interest-rate-decision-here-are-all-the-details-of-the-full-text/

                                                                               Lawmakers in the US House of Representatives and Senate met with cryptocurrency industry leaders in three separate roundtable events this week.                     Members of the US Congress met with key figures in the cryptocurrency industry to discuss issues and potential laws related to the establishment of a strategic Bitcoin reserve and a market structure.On Tuesday, a group of lawmakers that included Alaska Representative Nick Begich and Ohio Senator Bernie Moreno met with Strategy co-founder Michael Saylor and others in a roundtable event regarding the BITCOIN Act, a bill to establish a strategic Bitcoin (BTC) reserve. The discussion was hosted by the advocacy organization Digital Chamber and its affiliates, the Digital Power Network and Bitcoin Treasury Council.“Legislators and the executives at yesterday’s roundtable agree, there is a need [for] a Strategic Bitcoin Reserve law to ensure its longevity for America’s financial future,” Hailey Miller, director of government affairs and public policy at Digital Power Network, told Cointelegraph. “Most attendees are looking for next steps, which may mean including the SBR within the broader policy frameworks already advancing.“Read more