News

FOMC Decision November 2022: Fed Raises Interest Rate, Crypto Price Rise

The Federal Reserve announced a rate raise by 75 basis points. Bitcoin is seeing a sharp decline following the Fed rate announcement.
Published by
FOMC Decision November 2022: Fed Raises Interest Rate, Crypto Price Rise

The Federal Reserve announced a rate raise by 75 basis points for the fourth consecutive meeting. Bitcoin, which initially saw a sharp decline following the Fed rate announcement, appears to be slowly recovering. In the last one hour, Bitcoin (BTC) is trading on a slight decline but the picture could soon turnaround. As of writing, BTC price stands at $20,694.54, up 1.20% in the last 24 hours, according to price tracking platform CoinMarketCap.

Advertisement

Potential Slower Pace Going Forward

The central bank, however, hinted at a potential slower pace, going forward. The policy statement from Fed said,

“In determining the pace of future increases in the target range the committee will take into account the cumulative tightening of monetary policy, the lags with which monetary policy affects economic activity and inflation and economic and financial developments.”

Speaking at the FOMC press conference on Wednesday, Fed chair Jerome Powell indicated at slowing down of rate hike very soon. Powell said the time to slow rate hikes may come ‘as soon as next meeting’. This could be an ecouraging sign for the market that anticipated a 75 basis point rise this time around with a signal of slowing down of interest rate hike in December 2022.

Advertisement

Inflation Remains High

The Fed committee observed that inflation remained high in the country as modest growth was seen in spending and production. “Inflation remains elevated, reflecting supply and demand imbalances related to the pandemic, higher food and energy prices, and broader price pressures.” However, the committee said the rate of unemployment remained low in recent months. Job gains have been robust in recent months, and the unemployment rate has remained low, the committee noted.

The committee also mentioned the impact of the Russia Ukraine war on the global economy. The war and related events are creating additional upward pressure on inflation and are weighing on global economic activity, it explained.

Advertisement

Share
Anvesh Reddy

Anvesh reports major crypto updates around U.S. regulation and market moving trends. Published over 1400 articles so far on crypto and blockchain. A proud dropout of University of Massachusetts, Lowell. Can be reached at anvesh@coingape.com or x.com/BitcoinReddy or linkedin.com/in/anveshreddybtc/

Published by
Why trust CoinGape: CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights to our readers. Our journalists and analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
Investment disclaimer: The content reflects the author’s personal views and current market conditions. Please conduct your own research before investing in cryptocurrencies, as neither the author nor the publication is responsible for any financial losses.
Ad Disclosure: This site may feature sponsored content and affiliate links. All advertisements are clearly labeled, and ad partners have no influence over our editorial content.

Recent Posts

  • News

Veteran Trader Peter Brandt Says “MSTR Could Go Underwater” If Bitcoin Repeats 1977 Soybean Crash

Veteran trader Peter Brandt has drawn a comparison between Bitcoin’s current price pattern and the…

October 22, 2025
  • News

BSC Meme Season Ends as PumpFun Surpasses Four Meme Amid $8M Inflows

The latest market data suggests that the BSC Meme Season may be coming to an…

October 22, 2025
  • News

ProShares Files for Index Crypto ETF Tracking Bitcoin, Ethereum, XRP, and Solana

Asset manager ProShares is seeking to establish a new crypto ETF tracking the CoinDesk 20…

October 22, 2025
  • News

Trump Says Meeting with China May Not Happen, Bitcoin Drops

U.S. President Donald Trump has cast doubts over his meeting with China's President Xi Jinping.…

October 21, 2025
  • News

The Great Rotation? Bitcoin Rises as Gold Sees Largest Daily Drop Since 2013

Experts have indicated that a rotation might be occurring with investors moving from gold to…

October 21, 2025
  • News

Crypto Czar David Sacks to Meet Senate Republicans In Bid To Advance Market Structure Bill

Crypto and AI Czar David Sacks is set to meet with Republican members of the…

October 21, 2025