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Bitcoin holds near $64K as Fed keeps rates steady, September hike remains in play
['Adewale Olarinde', 'Written By', 'Reviewed By', 'Ishika Kumari', 'Benjamin Njiri', 'Gladys Makena', 'Muriuki Lazaro']
AMBCrypto
Bitcoin [BTC] traded near $64,000 after the US Federal Reserve left interest rates unchanged at 3.50%-3.75% on July 29, a decision that largely matched market expectations.
ADThree Fed officials break ranksThe FOMC voted 9-3 to keep interest rates unchanged.
The Fed’s implementation note left its operational interest rates and balance-sheet policy unchanged.
While Warsh stopped short of signalling a September increase, he acknowledged that higher interest rates could still become necessary if inflation fails to moderate.
He also noted that financial conditions had already tightened between meetings, pointing to higher nominal and inflation-adjusted Treasury yields despite no change in the policy rate.