The U.S. Federal Reserve gathered on Thu. for its Federal Open Market Committee (FOMC) session, where officials opted to trim the federal funds rate by a quarter-point. This announcement comes on the heels of Donald Trump’s election as the 47th president of the United States. “The economic outlook is uncertain, and the Committee is attentive to the risks to both sides of its dual mandate,” the FOMC meeting statement noted. “In support of its goals, the Committee decided to lower the target range for the federal funds rate by 1/4 percentage point to 4-1/2 to 4-3/4 percent,” the Fed added. The choice to reduce the rate by a quarter-point saw complete agreement among Fed members. In the wake of this announcement, bitcoin (BTC) climbed past its all-time high from Wed., hitting a new peak of $76,730.

#BTC