Federal Reserve Lowers Interest Rates Amid Economic Growth

According to PANews, the Federal Reserve has announced its latest interest rate decision, reducing rates by 25 basis points as anticipated. This adjustment brings the federal funds rate target range down to 4.25%-4.5%. The upper limit of the interest rate is now set at 4.50%, aligning with expectations and down from the previous 4.75%. The Federal Reserve's statement highlights that recent data indicates steady economic growth, with some easing in the labor market. Although the unemployment rate has risen, it remains relatively low. Inflation is close to the target but has shown a slight increase. The committee plans to continue reducing the balance sheet, with the decision receiving majority support. However, Beth Hammack opposed the decision, advocating for maintaining the rate between 4.5%-4.75%. During a press conference, Federal Reserve Chair Jerome Powell stated that the institution is not permitted to hold Bitcoin and does not intend to change the law regarding this matter.