The United States Federal Reserve Open Market Committee (FOMC) has decided to maintain the current interest rate range of 5.25% to 5.50%. While the interest rate remains unchanged, the FOMC has indicated that it might raise borrowing costs in the future. This decision is based on the strength of the U.S. economy, which continued to expand at a robust pace during the third quarter. The FOMC stated that it needs more time to assess additional information and its implications for monetary policy.
Notably, this marks the first time the Fed has kept interest rates steady for two consecutive meetings since embarking on an aggressive rate hike policy in March 2022. The decision reflects the Federal Reserve's efforts to balance economic growth and inflation. While the crypto market had a minimal reaction to this news, with Bitcoin holding steady at around $34,682.19, financial markets and investors are closely monitoring the central bank's future moves, especially regarding potential interest rate hikes.