Bitcoin was trading higher on Wednesday — but only slightly — after the Federal Reserve decided to keep interest rates still.
The top cryptocurrency in the world was recently priced The coin is now worth about $64,402, after gaining nearly 1% within an hour of the announcement.
The U.S. central Bank has done as expected. left The federal funds rate is set between 3.50% and 3.75%. Three out of 12 members on the Federal Open Market Committee, which sets policy, are women. “preferred” a quarter-percentage-point hike at this meeting.
Kevin Warsh revealed very little in his press conference following the Fed announcement about the direction the central bank will take.
“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.”
The July rate decision, he said, was a “significant” one. “a rigorous review of the economic situation.”
“I wouldn’t characterize what we did as anything like a pause,” He said. “I would characterize what we did as a rigorous review of the economic situation. I would characterize what we did as a review of the big, hard questions.”
Warsh who was appointed in May has stated that he will be appointing a new leader. “no tolerance” Inflation that is above the central banks’ target rate for over five years.
Bitcoin typically performs well when rates are low, so crypto investors were hoping that the Federal Reserve could cut rates and boost digital assets.
Donald Trump, since he took office in 2017, has called for lower rates of interest and has clashed over this issue with Jerome Powell, the former chairperson of the Federal Reserve.
Warsh does not seem to be moving in this direction for the time being, as Americans continue to struggle with sticky inflation.
Federal Reserve raised rates aggressively in 2022 to try and control the 40-year inflation spike caused by COVID-19. Bitcoin has been affected by this tightening.
In 2024 the central bank cut interest rates repeatedly. Since the end of 2025, it has been reluctant to reduce rates.
“This article is not financial advice.”
“Always do your own research before making any type of investment.”
“ItsDailyCrypto is not responsible for any activities you perform outside ItsDailyCrypto.”
Source: bitcoinmagazine.com
