According to Alex Dovbnya
The central bank has raised its interest rate eight times since March last year.
The U.S. Federal Reserve raised its target interest rate by a quarter of a percentage point during its first policy meeting of 2023, deciding that the economy was strong enough to withstand another short-term increase in borrowing costs.
After raising interest rates to fight inflation, the world’s most powerful central bank implemented a series of significant rate hikes last year.
Recent data suggested that the Fed had partly succeeded in curb inflation.
Due to the Fed’s highly hawkish monetary policy, Bitcoin’s terrible performance in 2022 was mainly attributed to.
Although the Fed has shown some signs of softening its stance on inflation, it remains committed to fighting price rises.
The central bank believes that further rate increases will be necessary.
Following the announcement, the Bitcoin price experienced little volatility. At the time of writing, it is trading at roughly $23,000.
