Fed Stands Pat, Bitcoin Holds Steady—But a December Rate Hike Is in Play
Summary
The Federal Reserve held its benchmark rate at 3.75%–4.00% in a 10-2 vote, with two officials preferring a quarter-point hike. It said economic activity remains strong and inflation elevated. Bitcoin changed little after the decision, trading near $80,950 after briefly topping $81,600. The report links inflation pressure to higher oil prices and notes that elevated Treasury yields can make non-yielding, volatile assets such as Bitcoin less attractive. Traders had anticipated a hold but were pricing in a high chance of another hike at the December meeting. October jobs and inflation reports will precede that decision.
