The U.S. Federal Reserve has decided to maintain its benchmark interest rate within the range of 3.50% to 3.75%, as announced on January 29. The decision, made with a 10-2 vote, reflects ongoing concerns about high inflation and robust economic growth. The Fed's policy statement offered little indication of when rate cuts might occur.
Following the announcement, the cryptocurrency market showed minimal short-term movement, with Bitcoin consolidating around $89,500. In contrast, precious metals saw gains, with gold rising 2.32% to $5,296.87 per ounce and silver increasing 0.91% to $113.31 per ounce over the past 24 hours.
Federal Reserve Holds Interest Rates Steady; Crypto Market Stable
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