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Fed Holds Rates at 3.50%–3.75% as Bitcoin Slips Below $76,000 on Deep FOMC Dissent
The Federal Reserve held the federal funds rate at 3.50%–3.75% on Wednesday, and Bitcoin fell below $76,000 after the decision. The meeting showed the highest level of dissent since October 1992, with opposition centered on including an easing bias in the policy statement. The Fed also said developments in the Middle East are contributing to a high level of uncertainty. The combination could force a repricing of expectations for rate cuts later this year.