Fed Cuts Rate in 'Risk Management' Move as Bitcoin Eyes Possible Upside

The Federal Reserve has returned to easing mode after ten months of taking a wait and see approach on the U.S. economy. In a widely expected move on Wednesday, the U.S. central bank cut its benchmark fed funds interest rate range by 25 basis points to 4%-4.25%, the lowest since December 2022, in what Fed chair Jerome Powell called a "risk management cut." The Fed acknowledged that economic growth in the first half of the year "moderated" and the job market has "slowed." This slowdown, Powell said during ...