Bitcoin extended its biggest jump in more than a week following the Federal Reserve’s latest monetary policy meeting and comments from Chair Jerome Powell that touched briefly upon crypto regulation.

Fed chair Jerome Powell said he has not talked with Trump since the president demanded last week “interest rates drop immediately.”

The central bank’s decision to pause at its first meeting of 2025 followed a series of cuts that began in September to account for progress already made on getting inflation down. Over the course of three meetings, the Fed lowered rates by a full percentage point to a range of 4.25 percent to 4.5 percent, which was maintained on Wednesday.

Since officials first cut rates in September, inflation has made uneven progress back down toward the central bank’s target. Meanwhile, investor expectations of inflation one and two y

Policymakers left their benchmark rate unchanged amid signs that the economy is humming along, defying the president’s tradition-bucking pressure on the central bank.