Federal Reserve Cuts Interest Rates by 25 Basis Points; Bitcoin Climbs Above $116,000
Bitcoin Magazine Federal Reserve Cuts Interest Rates by 25 Basis Points; Bitcoin Climbs Above $116,000 The Federal Reserve lowered interest rates by 25 basis points to 4.00–4.25%, marking its first cut in years. Bitcoin rose slightly above $116,000 on the news, according to Bitcoin Magazine Pro. This post Federal Reserve Cuts Interest Rates by 25 Basis Points; Bitcoin Climbs Above $116,000 first appeared on Bitcoin Magazine and is written by Nik.
Bitcoin Magazine
Federal Reserve Cuts Interest Rates by 25 Basis Points; Bitcoin Climbs Above $116,000
The Federal Reserve cut interest rates by a quarter percentage point on Wednesday, lowering its benchmark federal funds rate to a target range of 4.00% to 4.25%. The move, widely anticipated by markets, marks the central bank’s first rate reduction in years and reflects growing concern over slowing job growth and heightened downside risks to the U.S. economy.
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