The Federal Reserve maintained interest rates unchanged at 3.50% to 3.75%, citing increased geopolitical risks and rising oil prices, while raising its 2026 inflation forecast to 2.7%. This decision, combined with the previous dot plot projection indicating only one rate cut possible in 2026, pressured risk assets, with Bitcoin declining nearly 4% to around $71,600, and major U.S. stock indices also falling. Federal Reserve Chair Jerome Powell noted that the economic impact of Middle East tensions remains unclear and emphasized that future policy will be data-driven.

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