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– Advertisement – In its November meeting, the Fed kept the interest rate stable between 5.25 and 5.5 after the last hike in July. Although the minutes to be released later today are likely to follow a similar line, they may not trigger a reaction from financial markets. The Department of Labor’s employment report released on November 3 showed a slowdown in job creation in October, dropping from 297,000 in September to 150,000. FED’s meeting minutes will be published today: How will it affect Bitcoin and markets? Opinions of expert analysts on the subject! FOMC Meeting Minutes to be Released Today The minutes of the Federal Reserve’s November meeting will be a closely watched record that may provide clues about the direction of monetary policy and potential effects on the economy and markets. It will be disclosed to the public at 19:00 UTC. In the November 1 meeting, after the last interest rate hike in July, the Fed kept the interest rate stable between 5.25 and 5.5. In the press conference held after the meeting, Chairman Jerome Powell stated that the ongoing strength in the labor market and consumer spending could necessitate liquidity tightening, creating a negative expectation for risk assets like cryptocurrencies. Although the minutes to be released later today are likely to follow a similar line, they may not trigger a reaction from financial markets. The reason for this is the weak U.S. economic data announced since the meeting, which has strengthened expectations that the central bank has completed the interest rate hike process. In other words, the November meeting minutes may simply be updated. As noted by ING analysts in a customer note on November 17, the release of the minutes “may cause less market movement than usual, given the softness of the data after the meeting.”…

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Filed under: News - @ November 21, 2023 4:30 pm