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

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Wed, 27/01/2021 - 19:14
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.  

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

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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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