Update
Fed Holds Rates, Signals Continued Inflation Concern
The US Federal Reserve maintained interest rates at 3.75% to 4% in a 10-2 vote, with Governor Lisa Cook and Cleveland Fed President Beth Hammack favoring a quarter-point increase. Analysts predict a 78.4% probability of a quarter-point increase by December and a 67.3% probability of at least a quarter-point increase by March, according to CME FedWatch data. Bitcoin could face further headwinds as the market anticipates the Fed's hawkish tone and the impact on the asset's performance at elevated interest rates.