Last Minute: Expected FOMC Minutes Announced! Attention Altcoins!


Since the last meeting, investors had focused on the FOMC minutes. Details about the decisions taken by the FED and more are here. On what basis did the Fed take its decisions in the last meeting? The FOMC minutes, which shed light on the unknown on many issues, including the opinions and differences of opinion of the FED members, can also directly affect the prices of cryptocurrencies.

FOMC Minutes Announced!

As of 21:00, the FOMC minutes were released. One of the most important details to be curious about here is the FED’s approach to the 75 bp interest rate hike and what advice the members give in this direction. We can also see information about possible steps to be taken regarding balance sheet reduction here. Here, we will continue to update the news content with instant information.

21:00 FOMC Minutes Announced

Most FED members supported a 50 basis point rate hike at subsequent meetings.

All FED officials supported the May rate hike. Most think a 50 basis point rate hike is needed in June and July.

Members think that the Ukraine conflict and the increasing Covid cases in China pose high risks.

All respondents think that the US economy is very strong and the labor market is quite tight. It was underlined that inflation is high at the current level.

Bitcoin finds buyers at $ 29,760 at the time of writing. It seems that in the next few meetings, 50 bp will be taken as the base for interest rate hikes. After the statements, there may be a short-term recovery in Bitcoin and altcoins.

What Do the Fed and FOMC Do?

It has the same mandate as central banks in all countries and strives to maintain a secure, stable, financial system. It conducts the country’s monetary policy and supervises the banks. It consists of 12 Federal Reserve Banks and 24 branches in total. Since the US dollar is the reserve currency in the world, the decisions taken by the FED directly affect almost everything, including commodities, stocks, currencies of countries, economies.

The Federal Open Market Committee, on the other hand, is the body that creates the monetary policies of the Fed. It manages the US money supply within the framework of economic growth and current economic conditions. Powell chairs the FOMC meetings, meeting 8 times a year. At these meetings, discussions are held on the outlook of the US economy and monetary policy.

The FOMC has many tools to achieve its goals. Required reserves, discount rate and open market operations are actively used.