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Bitcoin Turns Positive as Fed Keeps Rates Near Zero

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Wed, 03/17/2021 - 19:25
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Alex Dovbnya
Bitcoin has rallied over four percent after the Fed signaled that its easy policy wouldn't change anytime soon
Bitcoin Turns Positive as Fed Keeps Rates Near Zero
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Bitcoin is poised to finish this day in the green after the Federal Reserve announced that it wouldn’t raise interested rates until late 2023, keeping its monetary easing policy in place. 

The largest cryptocurrency rallied over four percent after Fed Chairman Jerome Powell mentioned that the U.S. central bank would continue providing support “for as long as it takes” during his press conference. 

Powell
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The Fed will keep increasing bond purchases by at least $80 billion per month.  

While inflation currently remains below 2 percent, it is expected to hit 2.2 percent later this year. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.