"Bitcoin hovered near $89,000 on Wednesday as the Federal Reserve opted to hold interest rates steady, pausing its rate-cutting cycle and striking a notably calmer tone on inflation and the labor market. The bitcoin price traded above $90,000 earlier in the session before slipping to around $89,500 as Federal Reserve Chair Jerome Powell spoke at his post-meeting press conference. The move came after the Fed announced it would keep its benchmark federal funds rate unchanged at a range of 3.5% to 3.75%,"
"The decision reflected a central bank increasingly comfortable with the economy's trajectory, even as inflation remains above target. Policymakers cited moderating job growth and lingering price pressures as reasons to pause further easing. The Federal Open Market Committee voted 10-2 to hold rates, with Governors Stephen Miran and Christopher Waller dissenting in favor of another quarter-point cut. Miran, whose term expires Saturday, has consistently argued for deeper rate reductions."
Bitcoin moved from above $90,000 to around $89,500 as the Federal Reserve held the benchmark federal funds rate at 3.5%–3.75%. The Fed paused after three consecutive 25-basis-point cuts in prior months, citing a stronger economic trajectory despite inflation remaining somewhat elevated. Policymakers pointed to moderating job growth and lingering price pressures as reasons to stop further easing. The Federal Open Market Committee voted 10-2 to hold rates, with Governors Stephen Miran and Christopher Waller dissenting in favor of an additional quarter-point cut. Waller is noted as a potential candidate to succeed Chair Powell.
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