Fed January minutes show potential rate hikes back in focus as inflation stays above target

At its late-January Federal Open Market Committee meeting, the United States Federal Reserve left rates at 3.5%–3.75% but noted that further hikes could be warranted if inflation remains above target. The minutes show some policymakers prefer to hold rates steady for longer and see no case for additional easing until disinflation clearly resumes. A return to tighter policy would typically weigh on crypto markets by lifting yields on safer assets and making borrowing more expensive.