Fed Holds Interest Rates Steady: How Did Bitcoin React?
The move reflects the Feds cautious approach amid mixed signals on inflation, employment, and broader economic momentum.
Recent data indicates that the U.S. economy continues to grow at a solid pace, despite fluctuations in net exports. The unemployment rate remains low, and the labor market appears stable, the Fed noted. However, inflation remains above target, suggesting persistent pricing pressure.
The central bank reiterated its long-term goals of achieving maximum employment and inflation near 2%, but acknowledged that balancing both has become more difficult.
Bitcoin Climbs After Fed Statement
In the hours following the Feds announcement, Bitcoin rose to around $96,400, marking a 1.6% gain over 24 hours, based on data from CoinMarketCap. The worlds largest cryptocurrency had briefly traded near $97,500 earlier in the day but remains below the $100,000 level it last held in late February.
Crypto markets, often sensitive to monetary policy shifts, appear to be responding to the Feds balanced tone and decision to pause further rate hikes for now.
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