Bitcoin, crypto market set for key September test as FOMC’s July minutes dim hopes for rate cuts
- Federal Reserve executives said inflation risks could outweigh unemployment risks in its last meeting.
- A decision to use inflation data as a gauge for establishing interest rates hampers the chances of a cut in its September meeting.
- Bitcoin and the crypto market held steady following the release of the FOMC’s July meeting minutes.
Bitcoin (BTC) and the broader crypto market held steady on Wednesday after the Federal Open Market Committee (FOMC) released minutes from its July policy meeting, showing that officials are leaning toward inflation data as the key factor in reaching interest rate decisions.
Bitcoin, crypto market hold steady despite hawkish July Fed report
The FOMC July meeting minutes show that the Federal…
