The United States Federal Reserve will announce its interest-rate decision later today, but unlike essentially every meeting in the past six years, markets remain divided on the outcome. The current benchmark rate stands between 3.50% and 3.75%, with futures markets assigning a probability of up to 38% to a surprise 25 basis-point hike. Most experts, including analysts at the Kobeissi Letter and a Reuters survey of over 100 forecasters, still believe rates will remain unchanged. Bitcoin dropped by $3,000 yesterday ahead of the event, recovering half of those losses to trade above $64,000. A surprise rate increase would be the most bearish immediate outcome for the cryptocurrency, according to analysts.
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