News
Federal Reserve Interest Rate Decision Announced
The Federal Reserve is set to announce its interest rate decision at 2 p.m. ET today. Traders expect the decision to be a hold, with probabilities above 90% according to the CME FedWatch tool. The federal funds rate, currently at 3.75% to 4.00%, will set the baseline for consumer credit costs. Consumer prices rose 3.7% in the 12 months through September, with gasoline prices increasing 9.1%. The unemployment rate is at 4.2%, and inflation is driven by oil prices, which are near $100 per barrel due to the U.S.-Iran conflict. Bitcoin's price is around $80,700, and the price is expected to remain within a support-now-resistance zone.