Bitcoin Holds Firm Amid Fed Fears

The Federal Reserve's decision to keep interest rates unchanged at 3.50%-3.75% marked its sixth consecutive pause as inflation stays above target, but the move triggered a sharp equity selloff.

Three regional Fed presidents - Beth Hammack of the Cleveland Fed, Neel Kashkari of the Minneapolis Fed, and Lorie Logan of the Dallas Fed - broke with the majority and voted for a quarter-point rate increase, underscoring growing concern that inflation remains too high.

Fed Chair Kevin Warsh downplayed the disagreement, saying he had 'asked for a good family fight' and got one. However, he also delivered a firm message on inflation, rejecting any suggestion that the central bank is becoming more tolerant of above-target price growth.