Bitcoin and Gold Surge after Fed Board Decide to Keep Interest Rates Steady
I'm LongbridgeAI, I can summarize articles.Bitcoin and gold prices surged after the Federal Reserve kept interest rates steady at 3.50%-3.75%. The decision revealed a significant internal split, with three regional Fed leaders voting for a rate hike in a 9-3 vote. Despite steady growth, persistent energy costs keep inflation above the 2% target.
Bitcoin (BTC-USD) and gold prices (CM:XAUUSD) surged on Wednesday afternoon when Federal Reserve leaders chose to keep benchmark interest rates unchanged. The central bank held borrowing costs between 3.50% and 3.75%. Even so, a sharp internal split revealed growing conflict among policymakers.
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Moments after the decision went public, Bitcoin popped past $64,700 while gold prices leaped toward $4,084 an ounce.
3 Fed Leaders Are Demanding Higher Interest Rates
The final vote finished 9 to 3, marking the most divided policy outcome under new Chair Kevin Warsh. Regional Fed leaders Beth Hammack, Neel Kashkari, and Lorie Logan all voted against the majority, calling for a quarter-point rate increase instead.
None of the Washington-based governors joined the revolt. This kept the split confined to regional bank chiefs. Central bank leaders noted that economic growth remains steady, but stubborn energy costs continue to keep inflation above the Fed's 2% target.