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Fed holds rates steady, Bitcoin jumps above $64,400

The Fed kept the fed funds range at 3.50% to 3.75%, extending a sixth straight pause as markets turned to Chair Kevin Warsh for signals on the policy path.

Reported · Written up by our desk · Market Structure

The Federal Reserve left its benchmark fed funds rate range unchanged at 3.50% to 3.75%, extending its pause for a sixth consecutive meeting, according to CoinDesk.

CoinDesk reported that Bitcoin rose to above $64,400 after the decision, climbing more than 1% over the prior 24 hours as earlier declines in stock indexes were pared back, with gold up 1.2% through the day.

The Fed said inflation remains above its 2% goal, citing supply shocks including energy, while noting economic activity is expanding at a solid pace and that job gains have kept pace and unemployment has changed little, CoinDesk wrote.

CoinDesk also highlighted that nine committee members voted to keep policy in place, while three dissented in favor of a 25 basis point hike, and said attention is shifting to Chairman Kevin Warsh's post-meeting press conference for clues about the central bank's policy communication.

Latest closeGold $4,023.80 ▼1.2%|Bitcoin $63,409.10 ▼0.7%

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