On January 31, the United States Federal Reserve maintained its key interest rate range at 5.25–5.5% per annum.
The decision aligned with market expectations. According to the Fed, inflation has decreased over the past year but remains elevated. The agency also noted the low unemployment rate. In the long term, the Fed aims for 2% inflation and maximum employment.
On January 11, the U.S. Bureau of Labor Statistics released a report on consumer prices. The index value exceeded market expectations, with annual growth accelerating to 3.4% and a monthly increase of 0.3%.
At the time of writing, the cryptocurrency market showed little reaction to the news. According to CoinGecko, the prices of the largest digital assets by market capitalization showed no significant movement.
The price of the leading cryptocurrency fell below $43,500. At the time of writing, the total market capitalization remained above $1.7 trillion.
Back in December 2023, the Fed had kept the key rate at 5.25–5.5% per annum.