Bitcoin Slides as Fed Says It Will 'Deliver Price Stability' Under Kevin Warsh
The Federal Reserve left its benchmark rate unchanged at 3.5% to 3.75%, holding steady for a fourth time this year while it weighs inflation, economic data, and Middle East geopolitical risks. The Fed said activity remains solid despite elevated uncertainty and supply shocks, especially in energy, and stressed its commitment to price stability. Updated projections showed the median year-end rate forecast rising to 3.8% from 3.4% in March, signaling policymakers now expect no cuts this year and may lean toward higher rates. The labor market remains stable. Markets had largely expected the decision; Bitcoin slipped after the announcement after trading around $65,300, while Ethereum and Solana had strong weekly gains. Traders now see a modest chance of a July hike.
