The Fed raised rates by 25 basis points to 3.75%-4% on September 16, the first increase since July 2023. Bitcoin held steady between $76,000 and $76,800 despite the announcement, while US equities rebounded the following day on falling oil prices. Fed Chair Kevin Warsh described current inflation as unacceptable, with the median dot plot suggesting one more potential 25 basis point hike before year-end. On the crypto front, Bitcoin ETFs reported significant outflows and the Senate rejected the Clarity Act, a bill that would have provided clearer regulatory frameworks for digital assets.
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