India, Jan. 30 -- Cryptocurrencies have rallied after the Federal Reserve delivered the first pause since the central bank began easing policy last September.
As widely expected, the Federal Reserve held rates steady after delivering 100 basis points of rate cuts in the last part of 2024. As usual, the Fed acknowledged the elevated level of inflation. However, unlike in the previous statements, this time it did so without acknowledging the recent progress made in inflation toward the Committee's 2 percent.
The CME FedWatch tool that tracks the expectations of interest rate traders also reflected the change in the Fed's rate outlook. Expectations of a rate cut by the Fed in March has dropped to 18 percent from 23 percent a day ago and 27 p...