Fed Holds Rates Steady in 10-2 Vote, December Hike Still Possible

The Federal Reserve kept its benchmark interest rate unchanged on Wednesday, but the decision was far from unanimous. In a 10-2 vote, Governor Lisa Cook and Cleveland Fed President Beth Hammack dissented, favoring an immediate rate hike. The split signals growing internal pressure for tighter policy as inflation remains a concern. Bitcoin, which often moves on Fed signals, held steady following the announcement, suggesting investors had priced in the pause. However, the dissents have put a December rate increase firmly on the table. With the central bank's next meeting just weeks away, markets will watch incoming data closely. A hike could pressure risk assets like cryptocurrencies, while a continued pause might offer relief. For now, the Fed's path remains data-dependent, but the dissenting votes hint that patience is wearing thin among some policymakers.