Federal Reserve Chairman Jerome Powell has announced that he will continue to serve on the central bank's board as Governor after his term expires in May. During a press conference after the Fed decided to keep interest rates steady at 3.5%-3.75%, Powell expressed concerns about the ongoing legal challenges facing the central bank, stating that they have forced him to remain in his position despite his desire to maintain a low profile. Powell stated, "I am worried that these attacks are damaging the institution and putting at risk the ability to conduct monetary policy without considering political factors." The decision to keep interest rates unchanged was expected, but the dissent from three Governors was notable, according to macro analyst Matt Mena.
The Fed's decision had a significant impact on the market, with bitcoin prices slipping below the $75,000 support level. Looking ahead, markets are focusing on potential policy changes, with analyst Matt Mena suggesting that a pivot towards rate cuts and the passage of the CLARITY Act could lead to a significant increase in bitcoin prices, potentially reaching $85,000-$90,000.