Bitcoin Rises After Fed Downplays Potential Tariff Impact on Inflation — Market Talk

Bitcoin rises after the Federal Reserve downplayed the risk of higher inflation resulting from U.S. tariffs. Alongside the Fed's decision to leave interest rates unchanged Wednesday, Fed Chair Jerome Powell said the potential impact of U.S. tariffs on inflation would likely be temporary. The Fed will probably cut rates in response to signs of weakness in the labor market even if inflation remains around its current level, UBS Global Wealth Management analysts say in note. "We continue to expect two 25 basis points interest-rate cuts later this year." Bitcoin rises 0.5% to $85,806 after hitting a near two-week high of $87,462 overnight, according to LSEG. ([email protected])