TechFlow news, December 19: The Federal Reserve announced its latest interest rate decision, cutting rates by 25 basis points as expected, bringing the federal funds rate target range down to 4.25%-4.50%. The Fed set the upper bound of the rate at 4.50%, in line with expectations and down from the previous 4.75%. According to the Fed's statement, recent data indicate steady economic growth, a somewhat eased labor market, rising but still low unemployment, and inflation nearing the target but showing slight increases. The committee will continue reducing its balance sheet, and the decision was supported by the majority of members, with Beth Hammack dissenting, advocating for maintaining rates at 4.50%-4.75%.
During the press conference, Powell stated, "We are not allowed to hold Bitcoin, and we do not wish to change the law."
