Bitcoin is holding around $38,000 ahead of the Federal Reserve's decision on interest rates.
A representation of the virtual cryptocurrency Bitcoin. REUTERS/Edgar Su
The Federal Reserve is expected to announce the second of several anticipated increases this year as the central bank seeks to combat soaring inflation, which is at a high not seen in four decades. Jerome Powell, chairman of the U.S. Federal Reserve, speaks in the Eisenhower Executive Office Building in Washington, D.C., U.S., on Monday, Nov. 22, 2021.confirmed last month that central bank officials are likely to raise interest rates in May, and subsequent months.
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