The Federal Reserve held interest rates steady at 3.5 to 3.75 percent, with three officials dissenting in favor of an immediate hike. Fed Chairman Kevin Warsh, described as a sock puppet leading a very boring Fed meeting, recommitted to the 2 percent inflation target and offered no forward guidance. The Dow lost 1,153 points, oil jumped more than 7 percent, and Treasury yields surged, while bitcoin held around $64,000. The 30-year yield passed 5.2 percent, its highest level since the 2007 subprime crisis.
Oil jumped more than 7% as Treasury yields surged and the Fed held rates, likely due to inflation concerns and dollar weakness.
BitcoinFed held rates steady, no forward guidance, but rate hike dissenters and surging yields create mixed outlook for bitcoin.