Fed Holds Rates at 3.75% to 4.00% in 10-2 Vote as Inflation Concerns Persist
The Federal Reserve kept its benchmark rate unchanged at 3.75% to 4.00% on Wednesday, with Lisa Cook and Beth Hammack dissenting in favor of a quarter point hike. Officials upgraded their read on economic activity to strong from solid and said more data is needed before adjusting borrowing costs. Bitcoin rose 0.64% and Ethereum gained 0.91% after the decision, while XRP fell 4.11% and Solana dropped 5.37%.
