Warsh Floats Fewer Fed Meetings as Hawks Eye Hikes: How Will Bitcoin React?
The Federal Reserve may soon meet less often, minutes released Wednesday reveal, as Chairman Kevin Warsh floated fewer Fed meetings at just six a year. Three officials wanted a rate hike, leaving Bitcoin (BTC) facing a quieter, tougher central bank.
The Fed held interest rates at 3.50% to 3.75% on July 29, but the 9-3 vote hid a deeper split. The full minutes now show how close the committee came to raising rates.
Three Fed Officials Wanted a Rate Hike Right Now
Most officials chose to wait. However, Beth Hammack, Neel Kashkari, and Lorie Logan voted for a quarter-point hike. The three are the committee's leading hawks, officials who favor higher rates to fight inflation.
Many others agreed a hike may come soon. They said the Fed would likely need to act if inflation does not fall. The Fed's preferred inflation gauge ran at 3.7% in June, far above its 2% goal.
