The Federal Reserve held interest rates at 3.50% to 3.75% on July 29, but the 9-3 vote reveals a deep split within the committee. Three officials, Beth Hammack, Neel Kashkari and Lorie Logan, called for a quarter-point hike to fight inflation running at 3.7%, well above the 2% target. Chairman Kevin Warsh also floated the idea of reducing Fed meetings to six per year, which would limit signals sent to markets. Bitcoin traded around $68,245, up 5.3% on the day, but 5% Treasury yields continued to pull investments toward safer assets. The next decisive meeting is scheduled for September 15-16.
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