Bitcoin Magazine Bitcoin Price Trades Above $81,500 as Fed Keeps Rates Steady in Split Vote
The Federal Reserve left its benchmark rate unchanged Wednesday, holding the federal funds target range at 3.75% to 4%. The bitcoin price showed some volatility around $81,000.
The decision passed 10-2, and the dissents carry as much weight as the outcome. Governor Lisa Cook and Cleveland Fed President Beth Hammack wanted a quarter-point increase. It is the first time since 1992 that a Fed governor and a regional bank president have dissented together on the same side.
Fed Chair Kevin Warsh faced reporters after the vote and said politics played no role in the decision, days before the midterm elections. Warsh has said he does not favor forward guidance absent a crisis, which leaves investors to read the data themselves.
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