Generally speaking, the Fed keeps interest rates unchanged and has the effect of "quasi-interest rate reduction". At present, the Federal Reserve keeps the federal funds rate at a low level of 0-0.25%. This brings very low capital borrowing costs, encourages enterprise investment and household consumption, and contributes to the economic growth of the United States. At the same time, it also led to a decline in the exchange rate of the US dollar, which promoted exports and thus accelerated the recovery of the US economy. When the Fed's interest rate cut cycle ends, it will keep interest rates unchanged for a period of time as an observation period. This period may be relatively long, the general economy is still relatively weak, and it needs to be gradually restored to the pre-recession level before deciding the policy direction. With the increase of the dollar money supply, the dollar index will continue to decrease, while the price of crude oil denominated in dollars will continue to rise.

The Fed kept interest rates unchanged, which basically boosted crude oil prices. However, there are exceptions, which can be explained from two aspects:

First, the Fed kept interest rates unchanged, which pushed up the price of crude oil, and sometimes had a greater impact on the market outlook.

Second, the Fed's keeping interest rates unchanged is not the only factor that dominates the rise and fall of crude oil prices, and sometimes it needs to be comprehensively analyzed in combination with other factors at that time. For example, on the night of the interest rate decision on June 28, 2009, although the interest rate was announced to remain unchanged, the US House of Representatives finally voted to pass the economic stimulus plan of 81900 million US dollars. The rising risk appetite boosted market confidence, which led to the rebound of US stocks and US dollars. In the end, crude oil fell instead of rising.