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BREAKING: Fed Keeps Rates Unchanged as Bitcoin Recovers to $30K

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Wed, 01/27/2021 - 19:14
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Alex Dovbnya
The U.S. Federal Reserve says that the pace of the ongoing economic recovery has "moderated"
BREAKING: Fed Keeps Rates Unchanged as Bitcoin Recovers to $30K
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In line with market expectations, the U.S. Federal Reserve has decided to keep interest rates near zero, CNBC reports.  

Bitcoin, the largest cryptocurrency, has soared over three percent on the news, recovering to the $30,300 level on the Bitstamp exchange. 

Bitcoin
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In its statement, the Federal Open Market Committee (FOMC) mentioned that the recovery of the U.S. economy was slowing: 

The pace of the recovery in economic activity and employment has moderated in recent months, with weakness concentrated in the sectors most adversely affected by the pandemic. 

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.