Bitcoin Price Rebounds as Fed Chair Warsh Explains Rate-Hike Pause

The US Federal Reserve kept interest rates unchanged after raising them in September for the first time in more than three years, with two of its 12 policymakers dissenting in favor of an increase to 4%-4.25%. Fed Chair Kevin Warsh said stronger-than-expected economic activity and steady job gains supported the decision, while financial uncertainty and elevated inflation linked to geopolitical developments remained concerns. Warsh said inflation had stayed above the committee’s objective for close to six years and that political considerations did not affect the decision. Bitcoin traded in a volatile range around the announcement, moving between $79,500 and $81,700 before rebounding above $81,000 after Warsh’s press conference.