Fed Resumes Rate Hikes as Inflation Fight Takes Priority

The Federal Reserve increased its benchmark interest rate by 25 basis points to a 3.75%-4.00% target range, marking its first rate hike since July 2023.

The move was unanimous among all 12 voting members of the Federal Open Market Committee (FOMC), despite repeated public calls from President Donald Trump for rate cuts and warnings of additional tariffs on U.S. trading partners if borrowing costs weren't reduced.

Bitcoin traded around $76,117, up 0.1% in the past 24 hours, showing a relatively subdued response to the decision. Ethereum and other major altcoins also saw muted price action following the rate announcement.