Fed Holds Rates Steady as Two Officials Back a Hike; December Move in Play
The Federal Reserve kept interest rates unchanged on Wednesday in a 10-2 vote. Governor Lisa Cook and Cleveland Fed President Beth Hammack wanted a rate hike instead. Bitcoin held steady, but traders are now watching for a possible December increase.
Why it matters
- Two policymakers wanted a rate hike now, showing the Fed is divided on policy.
- Bitcoin held steady after the decision, so the immediate reaction was calm.
- A December rate hike is now in play, which could affect risk assets like crypto.
What to watch next
Watch the Fed's next policy decision in December to see whether a rate hike goes ahead.
