$BTC
$BTC The Federal Reserve held interest rates steady on Wednesday, pausing its rate-cutting cycle after three consecutive cuts amid continued uncertainty over the labor market and inflation. The decision leaves the target range for the federal funds rate at 3.5% to 3.75%, + a level central bankers believe is "loosely neutral." Fed Chair Jerome Powell said the economy remains on "firm footing" noting that while job gains have "remained low" the unemployment rate has "shown some signs of stabilization." He said a "good part" of the slowdown in job growth reflects declining immigration and labor force GOVER participation, while acknowledging that demand in the labor market has "clearly softened as well.!"
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