The US Federal Reserve maintained its benchmark interest rates in the 3.50% to 3.75% range for the fifth consecutive time, while leaving the door open to a potential hike to bring inflation back to its 2% target. The Nasdaq-100 index fell more than 10% in July, erasing gains made in April and May. The S&P 500 dropped 1.5% amid heightened market volatility. For Bitcoin and other risk assets, the lack of clarity on rate cuts limits investor appetite, even though the prospect of controlled inflation appears positive.
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