Fed holds interest rates steady, crypto markets shrug as focus shifts to new chairman
The Federal Reserve held interest rates steady, drawing dissents, while crypto markets showed a muted reaction as focus shifts to the next Fed chairman.Summary
The U.S. Federal Reserve maintained its benchmark federal funds target range at 3.5% to 3.75%, a decision widely expected by markets. The Fed noted that economic activity remains solid, but inflation is still elevated, reiterating its commitment to maximum employment and 2% inflation. Governors Stephen Miran and Christopher Waller dissented, favoring a 25-basis-point rate cut. Crypto markets reacted minimally; Bitcoin briefly dipped before recovering, while Ethereum, Solana, and XRP remained relatively stable. Analysts suggest that while the Fed's rate path is a key driver for risk assets, market attention is increasingly turning toward signals about future Fed leadership, with Rick Rieder currently favored in betting markets to become the next Fed chair.
(Source：The Block)