The Federal Reserve held interest rates steady at 3.5 to 3.75 percent in a unanimous 12-to-0 vote during Kevin Warsh's first FOMC meeting as chair, triggering declines in stocks and Bitcoin. Warsh canceled forward guidance, refused to provide a dot plot, and signaled a focus on price stability and jobs, while nine of 18 officials projected at least one rate hike this year and six projected two. He also suggested the 2 percent inflation target could effectively float between 2 and 3 percent, a comment markets did not welcome. The decision and Warsh's posture were seen as broadly negative for risk assets, with Bitcoin sliding in response.
BlackRock IncBitcoinBitcoin slid as the Fed's hawkish stance and Warsh's comments were seen as negative for risk assets.