Fed Minutes Show Split on Rate Hikes as Committee Holds at 3.50%–3.75%

Federal Reserve minutes released July 8 showed officials unanimously held rates at 3.50% to 3.75% at the June 16-17 meeting, but were divided on whether another hike is needed this year and flagged inflation risks tied to artificial intelligence spending. According to BeInCrypto, the meeting was Chair Kevin Warsh’s first, and the minutes cited tariff pass-through, Middle East energy costs, and AI-driven demand for tech, data centers and electricity as key inflation pressures. Nine of 19 officials penciled in at least one rate hike before end-2026, while Fed staff raised inflation forecasts for 2026 and 2027. Bitcoin (BTC) traded near $62,240, down about 2.7% over 24 hours.