On Wednesday, Federal Open Market Committee members opted to hold interest rates steady. This marks their eighth pause since consistently raising interest rates from March 2022 to July 2023.

Stocks showed little immediate change, holding onto gains made earlier in the session. At the time of publication, the S&P 500 and Nasdaq Composite indexes were up 1.6% and 2.4%, respectively.

Many cryptocurrencies dipped across the board, paring gains from earlier in the day. However, bitcoin and ether remained in the green at time of publication, trending 0.7% and 0.3% higher, according to data from Coinbase. 

Committee members’ forward guidance, found in the third paragraph of Wednesday’s…

Read more on Blockworks