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Markets react to Fed’s July decision, rates held at 3.50% to 3.75%
Bitcoin and XRP were trading at $64,268.33 and $1.08 after the Federal Reserve kept its benchmark rate unchanged.
TheStreet reports that the Federal Reserve announced its July interest rate decision after a two-day policy meeting on July 29, and kept the benchmark rate unchanged in the 3.50% to 3.75% range.
The report said Fed chair Kevin Warsh has emphasized lowering inflation to 2% but has not laid out a detailed plan, while President Donald Trump previously urged the Fed to cut rates and called Warsh “fantastic.”
After the Federal Open Market Committee decision, Bitcoin was trading at $64,268.33 and XRP at $1.08 at the time of writing, and TheStreet said sentiment was reflected in the Crypto Fear and Greed Index from CoinGlass.
The Crypto Fear and Greed Index stood at 28, indicating fear among traders, though the report added that sentiment has improved from weeks of “Extreme Fear.”
Latest closeBitcoin $64,665.24 ▲1.2%|XRP $1.086 ▲1.2%