SEC Drops Appeal Against Ripple as Fed Maintains Interest Rates Steady
On March 19, Ripple CEO Brad Garlinghouse announced that the U.S. Securities and Exchange Commission (SEC) has dropped its appeal against Ripple, marking a significant legal victory for the company.
Fed Keeps Interest Rates Steady
The Federal Reserve has decided to maintain interest rates in the range of 4.25% to 4.5% for the second consecutive meeting. Key points from the Fed's latest meeting include:
- Increased uncertainty surrounding the economy
- Updated projections indicate potential rate cuts in 2025, with a median forecast of 50 basis points
- A divided outlook on rate reductions, with four officials now anticipating no cuts in 2025
- Revised downward economic growth projections for 2025
- Increased inflation forecast for 2025
- Slower pace of balance sheet runoff starting in April
Implications For Crypto Markets
The Fed's decision to hold rates steady and concerns about inflation may create challenges for the crypto market. A slowdown in economic growth could hinder the anticipated growth of digital assets later in the year.
