The Federal Reserve raised its benchmark rate by 25 basis points to a 3.75%-4.00% range in a unanimous vote, its first hike since 2023. Fed Chair Kevin Warsh acknowledged the economy has strengthened while calling inflation the problem, contrary to what Trump has been demanding for months. Bitcoin briefly spiked before stabilizing near $75,500, as markets had already priced in the move. The Fed’s updated projections still point to one more hike before year-end.
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