Fed Chair Kevin Warsh opens first policy meeting with rates seen holding at 3.5%–3.75%, dimming crypto rate-cut bets

The U.S. Federal Reserve starts a two-day policy meeting this week under its new chair, Kevin Warsh, with markets widely expecting rates to stay at 3.5% to 3.75%. Attention has shifted from when cuts might arrive to whether inflation will force the Fed to keep policy tighter for longer. That change has weighed on expectations that easier monetary conditions could support risk assets such as cryptocurrencies.