Bitcoin Barely Budges as Fed Keeps Interest Rates Unchanged
Bitcoin Magazine
Bitcoin Barely Budges as Fed Keeps Interest Rates Unchanged
Bitcoin was trading higher on Wednesday — but only slightly — after the Federal Reserve decided to keep interest rates still.
The leading cryptocurrency was recently priced at close to $64,402 per coin, after moving up by nearly 1% in the hour following the announcement.
As expected, the U.S. central bank left the federal funds rate in the 3.50%-3.75% range. Three of the 12 members of the policy-setting Federal Open Market Committee “preferred” a quarter-percentage-point hike at this meeting.
Speaking to the press following the announcement, the Fed’s new Chair, Kevin Warsh, revealed little about where the central bank would go next.
“The Fed’s on the case,” he said. “I’ve been heartened by the reception I’ve received. We’re committed as ever to deliver.”
He added that the July rate decision was “a rigorous review of the economic situation.”
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