Fed Keeps Rates Unchanged; Bitcoin and Ethereum Slide 1%

Odaily Planet Daily reports: The Federal Reserve on Wednesday left its benchmark interest rate unchanged at 3.5% to 3.75%, matching broad market expectations. It was the fifth straight meeting without a rate move since the committee's 25-basis-point cut in December 2025. Cryptocurrencies weakened after the decision. Bitcoin fell about 1% to $63,890, while Ethereum slipped roughly 1% and stayed above $1,900. The Fed released the decision without an economic projections summary or dot plot. The next dot plot is due in September. Policymakers said the U.S. economy continues to expand at a solid pace, while inflation remains above the 2% goal. The committee cited higher energy prices, linked in part to Middle East tensions, as a factor. Cleveland Fed President Beth Hammack, Minneapolis Fed President Neel Kashkari, and Dallas Fed President Lorie Logan dissented, preferring an immediate 25-basis-point rate hike. The next FOMC decision is scheduled for Sept. 16, 2026, and will include updated economic projections and a new dot plot.