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Since July 2023, the Fed has maintained its benchmark interest rate target range of 5.25%-5.5%, the highest level in 23 years. That was the outcome of 11 consecutive rate hikes starting in March 2022.saw seesaw price action, oscillating between $61,906 and $64,524 in Wednesday's trading session before settling to trade around $62,000. Bitcoin was down 1.13% at press time, trading at $61,440.
The S&P 500 likewise fluctuated following Powell's speech, briefly falling into the negative before recovering.
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