U.S. Federal Reserve officials have voted to keep interest rates unchanged during their June 9-10 meeting, CNBC reports.
Moreover, they were predicted to remain close to zero until 2022 by the central bankers. During that period, the U.S. economy is expected to recover from the pandemic-induced blow that is projected to shrink it by 6.5 percent in 2020.
card
Both U.S. stocks and Bitcoin have positively reacted to the dovish forecast made by the Fed.
The S&P 500 index is currently in the green after surging to an intraday high of 3,221 points, extending its stellar rally.
The Bitcoin price has finally stopped trading within a tight range and ripped sharply higher, surpassing the $10,000 mark for the first time since June 2.
However, the top cryptocurrency hasn’t managed to stay in the five-digit territory for too long. At the time of writing, it is changing hands at $9,933 as the bulls are taking a respite.
Vladislav Sopov
Tomiwabold Olajide
Dan Burgin