Fed Holds Rate at 3.5-3.75% as Expected; Bitcoin Tops $64,640
The Federal Reserve left its benchmark rate at 3.5–3.75%, matching market expectations. Bitcoin briefly topped $64,640 following the decision, gaining 0.6% on the day.
BTCUSD
The U.S. Federal Reserve held the federal funds rate steady at 3.5–3.75% at its latest meeting, in line with consensus forecasts. The market had priced roughly a 38% chance of a 25-basis-point hike.
Policymakers noted that inflation remains above the 2% target, driven in part by supply-side shocks including higher energy prices.
Bitcoin rose in reaction to the news, momentarily exceeding $64,640. Over the past 24 hours, the cryptocurrency added about 0.6%.
Source: ForkLog