On December 13, 2023, the Federal Reserve Board held a meeting where they opted to hold the key interest rate steady within a target range of 5.25% to 5.5%. This decision marks the third consecutive time the Fed has chosen not to alter the rate, reflecting a cautious approach amid changing economic conditions.
Notably, the Fed signaled three potential rate cuts in 2024, indicating a shift in monetary policy to foster long-term economic stability and growth. This announcement comes as inflation shows signs of easing, while the economy continues to display resilience, with a moderated pace of growth.
Market Movements
Concurrent with this announcement, the markets reacted positively to the Fed's decision. Major stock indexes, including the Dow Jones Industrial Average and S&P 500, soared to record highs, signifying a boost in investor confidence. Additionally, the crypto market has also reacted positively, with leading cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) experiencing notable increases.
While the Fed's cautious yet adaptive approach aims to balance growth with inflation management, it also ignites optimism about a supportive economic environment for businesses and consumers alike.
With potential rate cuts ahead and the Bitcoin Halving in April, 2024 is signaling a potential positive year for growth in the crypto markets.
In the wake of these recent positive trends, along with other favorable events this year, companies like iTrustCapital are stepping into the spotlight.
More and more people are now seeing the perks of using tax-advantaged IRAs to buy and sell alternative assets such as crypto.
Want to add Crypto to your portfolio? Check out the benefits of buying and selling within a tax-advantaged IRA at iTrustCapital!
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Source: https://www.reuters.com/markets/us/fed-likely-hold-rates-steady-signal-couple-cuts-2024-2023-12-13/
DISCLAIMER
This article is for information purposes only. It does not constitute investment advice in any way. It does not constitute an offer to sell or a solicitation of an offer to buy or sell any cryptocurrency or security or to participate in any investment strategy.
iTrustCapital is a cryptocurrency IRA software platform. It is not an exchange, funding portal, custodian, trust company, licensed broker, dealer, broker-dealer, investment advisor, investment manager, or adviser in the United States or elsewhere. iTrustCapital is not affiliated with and does not endorse any particular cryptocurrency, precious metal, or investment strategy.
Cryptocurrencies are a speculative investment with risk of loss. Precious metals are a speculative investment with risk of loss. Cryptocurrency is not legal tender backed by the United States government, nor is it subject to Federal Deposit Insurance Corporation (“FDIC”) insurance or protections. Clients do not receive a choice of custody partner. The self-directed purchase and sale of cryptocurrency through a cryptocurrency IRA have not been endorsed by the IRS or any regulatory agency. Historical performance is no guarantee of future results.
Some taxes and conditions may apply depending on the type of IRA account. Investors assume the risk of all purchase and sale decisions. iTrustCapital makes no guarantee or representation regarding investors’ ability to profit from any transaction or the tax implications of any transaction. iTrustCapital does not provide legal, investment or tax advice. Consult a qualified legal, investment, or tax professional.
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