Bitcoin Bounces to $64K as Fed Chair Warsh Focuses on Inflation

Federal Reserve Chair Kevin Warsh told markets to focus on incoming economic data rather than trying to guess central bank moves. The Federal Open Market Committee voted to keep the federal funds rate steady in a 3 to 3 vote, while Warsh emphasized that the committee remains fully committed to bringing inflation down to its target.

Following the announcement, Bitcoin climbed about 0.84% over twenty four hours to trade near $64,237. Traditional markets also showed positive movement, with the SPDR S&P 500 ETF Trust turning positive at $742.00. Meanwhile, gold spot pushed past $4,100 for its highest level of the session as traders digested the updated policy outlook.

Not all market observers share Warsh's optimism. Critics like Peter Schiff argue that despite the tough talk, the central bank has not altered its interest rates or balance sheet approach. Investors will now watch upcoming economic reports closely to see how the data influences Federal Reserve policy in the coming months.