Bitcoin Spikes as Fed Skips Rate Cut—No ‘Hurry’ Despite Trump Demand – BitRss

The Federal Reserve left its benchmark interest rate unchanged Wednesday, hitting the pause button on its easing campaign after delivering three interest rate cuts in a row. And Bitcoin appeared to fall sharply at first before spiking to a three-day high.

The decision, which was widely expected among Fed futures traders, kept the federal funds rate at a target range of 4.25% to 4.50%. When the Fed began easing monetary policy in September, its benchmark interest was a full percentage point higher, hovering at a 23-year high.

“That recalibration or policy stance was appropriate in light of the progress on inflation and the rebalancing in the labor market,” Fed Chair Jerome Powell said. “We do not need to be in a hurry to adjust o