The Federal Reserve kept its benchmark interest rate unchanged at 3.5% to 3.75% on Wednesday, April 29, as policymakers weighed inflation pressure, economic uncertainty and a divided path for monetary policy. The decision kept borrowing costs at the same level and showed that the central bank was not ready to cut rates yet. The Federal Open Market Committee voted 8 to 4 to hold rates steady. Stephen Miran dissented because he wanted a 25 basis point cut. Beth Hammack, Neel Kashkari and Lorie Logan supported the rate hold but opposed the statement’s easing bias, according to the Fed’s official release. The Fed said it will assess incoming data, the economic outlook and the balance of risks before making further changes. The central bank also repeated that it remains committed to maximum employment and returning inflation to its 2% objective. Bitcoin Drops After Fed Decision Bitcoin fell after the Fed announcement as traders reacted to the split vote and the lack of an immediate rate cut. The token slipped from about $76,200 to around $75,000 in the first hour after the decision, then rebounded near $75,760, according to market data cited Thursday. Other market reports showed Bitcoin briefly moving below $75,000 after the Fed decision. The drop came as investors reduced risk exposure and adjusted expectations for lower rates in 2026. Higher rates usually pressure risk assets because they make cash and bonds more attractive compared with volatile assets. The move followed wider market caution. Investopedia reported that Bitcoin traded near $75,000, down from overnight highs around $77,900, while the dollar moved higher and gold futures declined. The reaction showed that traders treated the Fed statement as a risk event, even though the rate hold matched broad expectations.
