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XRP slid ~3% in 24h, stuck in a descending channel after failed breakout. Ripple’s XRP (XRP) token declined alongside broader cryptocurrency markets on Monday,

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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/