Feds July Interest Rate Decision Looms Over Cryptocurrency Markets

The Federal Reserve's decision on interest rates is set to impact various markets, including gold, the dollar, oil, Bitcoin, and cryptocurrencies.

The Fed will announce its July decision on Wednesday, July 29th at 9:00 PM Turkish time. Following the decision, Fed Chairman Kevin Warsh will make a statement at 9:30 PM.

Markets are expecting the Fed to keep interest rates unchanged in July, as they did in June, with a probability of 66.3% and a 33.7% chance of a 25 basis point rate increase.

Moody's Analytics Chief Economist Mark Zandi predicts that the Fed will not raise interest rates for the remainder of the year, citing limited inflationary effects and already reflected tariffs in prices.