#CryptoComeback Trade agreements, interest rates, and crypto

The biggest news yesterday was that the Federal Reserve maintained the benchmark interest rate at 4.25% to 4.5%, which was the market expectation. However, President Trump pushed for a rate cut while tariffs threaten inflation, which has made the market concerned about the tension between the two.

As a sign that tariff tensions may ease, President Trump announced a trade agreement with the UK today, which is actually more of a framework with details to be discussed later. The agreement reduces some import tariffs on pharmaceutical products and cars while still maintaining a 10% tariff on all imports.