Bitcoin Price Rebounds as Fed Chair Warsh Explains Rate-Hike Pause

There was no rate change but the decision was not unanimous. In what was the most expected turn of events, the US Federal Reserve kept the interest rates unchanged after the first hike in over three years in September. However, the decision was not unanimous: two of the 12 policymakers voted to raise the benchmark to 4%-4.25%. Fed Holds Rates Steady Following last month’s hike, which was the first since mid-2023, all eyes turned to the inflation data for September, and both major indices, the CPI and the PPI, showed that inflation has remained a major concern. However, expectations for a new rate hike dropped, and experts were adamant that if there’s a raise, it would be in December. After keeping rates unchanged today, the Federal Reserve justified its decision by highlighting stronger-than-expected economic activity, and added: “Job gains have kept pace with the workforce, and the unemployment rate has changed little.” In the subsequent highly anticipated press conference, Fed Chair Kevin Warsh cautioned that the financial uncertainty and elevated inflation remain due to “geopolitical developments.” He doubled down on the fact that the US economy is “resilient,” and added that th...