The Fed kept rates at 3.50%-3.75% for a fifth straight meeting on July 29 in a 9-3 vote. Three regional presidents dissented in favor of a hike, the first time since 2016 that three dissents pushed for tightening, and Chair Kevin Warsh said the 2% inflation target is non-negotiable.
Matters because: The hawkish tilt reduces near-term rate cut expectations, which may cap crypto upside as risk assets tend to benefit from looser policy.