Fed holds rates steady, extending pause as markets await Kevin Warsh's policy roadmap
For the first time in several years, markets were somewhat split on whether the U.S. central bank would hike rates.
Source: CoinDesk
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DW NOTE
The Fed held at 3.50%-3.75% with three dissents for a hike — the first split vote in this pause cycle. Markets had priced a 35% hike probability, which tells you the 2% target is further away than the statement admits. Bitcoin rose because anything short of tightening now reads as accommodation.