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A press conference by Kevin Warsh following a Federal Open Market Committee meeting sent both Bitcoin ($BTC) and gold lower, according to reporting by KuCoin.
The FOMC — the Federal Reserve's policy-setting body — is the single most powerful lever on U.S.
interest rates, and markets in assets ranging from cryptocurrencies to precious metals tend to reprice sharply when its leadership speaks. Both Bitcoin and gold fell in the wake of Warsh's remarks.
What the FOMC Is and Why Its Press Conferences Move Markets The Federal Open Market Committee meets roughly eight times a year to set the federal funds rate — the baseline borrowing cost that ripples through every corner of the financial system.
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