Roundup: FOMC & Interest Rates
Dylan LeClair | Guest Contributor
Sep 21, 2023
Hi all,
This is Dylan LeClair, presenting this week’s Onramp Weekly Roundup.
Before we get started… If you’re a HNWI or Institution looking for the best way to get exposure to bitcoin, Onramp Bitcoin could be the right fit for you – schedule a chat with us to discuss your situation & needs.
And now, here’s the weekly roundup…
Another FOMC Day in the Books
Yesterday’s FOMC meeting came and went, with the Federal Reserve maintaining its benchmark interest rate and signaling that one more rate hike is likely this year. While there was little uncertainty about yesterday’s rate decision, the major revelation came in the form of the Fed’s hawkish “dot plot,” which defied market expectations. The projections revealed that 12 out of 19 officials favor another rate hike in 2023, significantly reducing the number of rate cuts expected for 2024.
The chart below illustrates the dramatic repricing that has occurred in the interest rate curve compared to both seven and thirty days prior, revealing a bearish steepening in rate expectations.




