Fed Holds Interest Rate Steady, Bitcoin and Ethereum Dip About 1%
2026-07-29 18:48
Odaily Planet Daily News The Federal Reserve kept its benchmark interest rate steady at 3.5% to 3.75% on Wednesday, in line with broad market expectations. This marks the fifth consecutive meeting where the committee has held rates unchanged since the 25 basis point cut in December 2025.
Following the Fed's decision, the price of Bitcoin fell about 1% to $63,890, while Ethereum also declined approximately 1%, trading above the $1,900 level.
This resolution did not include a Summary of Economic Projections or a dot plot; the next dot plot is scheduled for release in September. The committee stated that the U.S. economy is expanding at a solid pace, but inflation remains above the 2% target, partly due to rising energy prices driven by the situation in the Middle East.
Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan voted against maintaining the rate, supporting an immediate 25 basis point hike instead. The next FOMC decision is scheduled for September 16, 2026, and will include updated economic projections and a new dot plot.
Following the Fed's decision, the price of Bitcoin fell about 1% to $63,890, while Ethereum also declined approximately 1%, trading above the $1,900 level.
This resolution did not include a Summary of Economic Projections or a dot plot; the next dot plot is scheduled for release in September. The committee stated that the U.S. economy is expanding at a solid pace, but inflation remains above the 2% target, partly due to rising energy prices driven by the situation in the Middle East.
Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan voted against maintaining the rate, supporting an immediate 25 basis point hike instead. The next FOMC decision is scheduled for September 16, 2026, and will include updated economic projections and a new dot plot.
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