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Fed Keeps Rates Unchanged as Bitcoin Recovers to $30K

The U.S. Federal Reserve says that the pace of the ongoing economic recovery has “moderated”

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.

BitcoinImage by tradingview.com

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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