The Federal Open Market Committee has surprised markets by speaking in dovish tones about the US and the global economy. While many people expect the Fed… and we examine the implications for the economy and Bitcoin. Meanwhile, the Bitcoin Price, along with Gold, continues advancing.

The layout of the article has changed. Bitcoin price analysis is now posted as the final section and updates made during the European and US sessions will be added after it, at the bottom of the article. The chronology of price development should be easier to follow. Links to the various sections are provided below. Feel free to give feedback and suggestions via the comments section.

The Federal Open Market Commitee

The Federal Open Market Committee (FOMC) is the executive committee of the US Federal Reserve Bank. The minutes of the FOMC’s monthly meeting are eagerly anticipated and carefully scrutinized by the markets for clues about economic direction from the world’s most powerful central bank. The Fed presently holds the starter-gun to global interest rate increases – if the Fed increases rates then the globe’s central banks must follow by necessity. Ironically, most central banks are not ready to do so, for example, the European Central Bank has only just begun experimenting with negative interest rates as a means of counteracting deflation.