The Federal Reserve lowered interest rates 25 basis points, but signaled fewer rate cuts in 2025 due to a higher inflation reading. But Fed Chairman Jerome Powell said it analyzes the data as they occur. So predicting how many cuts will occur next year is not set in stone. Afterwards, the Dow fell 1,000 points and the Nasdaq, 716 points.
Powell’s comment about the U.S. government investing in Bitcoin was also noteworthy:
Bitcoin held steady today at over $100,000.