The Fed didn’t hike, but it didn’t give markets what they wanted either.
Rates were held at 3.50%–3.75%, but the real story is the split: the vote was the most divided since 1992, while inflation warnings turned noticeably more hawkish.
Powell also said he plans to remain as a Fed governor even after his chair term ends, meaning his influence may not disappear anytime soon.
For crypto, this is not a crash signal, but it does cool short-term risk appetite.
$BTC may stay relatively resilient, while $ETH and altcoins need rate-cut expectations to heat up again.
In simple terms:
The market wanted a rate-cut story. The Fed reminded everyone that inflation is still alive.