Federal Reserve cuts rates by 25bps to 3.5%-3.75% as Bitcoin steadies near $92K
The Federal Reserve cut its benchmark interest rate by 25 basis points to 3.5%-3.75% amid economic uncertainty, while Bitcoin stabilized near $92K.Summary
The U.S. Federal Reserve reduced its benchmark interest rate by 25 basis points, setting the new target range at 3.5% to 3.75%, citing elevated economic uncertainty and rising employment risks. This decision, supported by nine FOMC members, signals a potential policy shift, though three members dissented, favoring either a larger cut or no change. In addition to the rate cut, the Fed announced it would begin purchasing shorter-term Treasury securities as necessary to maintain ample reserves, suggesting a possible halt to quantitative tightening. Following the announcement, Bitcoin stabilized around the $92K level, showing limited upward momentum after a prior decline from $94K. Market participants are now awaiting Chair Jerome Powell’s press conference for guidance on future policy adjustments, as the Fed remains focused on evolving economic conditions and its 2 percent inflation target.
(Source：Crypto Briefing)