The Federal Reserve cut interest rates by 25 basis points, restarting the pace of interest rate cuts

The Federal Reserve lowered the benchmark interest rate by 25 basis points to 4.00%-4.25%, in line with market expectations. This marks a restart of the pace of interest rate cuts that have been suspended since December last year.

On September 17, the US Congress held a legislative promotion meeting on Bitcoin strategic reserves. Senator Ted Cruz, Marsha Blackburn and Strategy founder Michael Saylor attended the event. The BITCOIN Act was re-established by Senator Cynthia Lummis in March this year, aiming to include Bitcoin in the national strategic reserve assets and require the government to acquire 1 million Bitcoins within the next five years.

Hailey Miller, head of policy at Digital Power Network, said that the parties have reached a consensus on the need for strategic bitcoin reserves and plans to incorporate them into a broader policy framework. The proposal expands President Trump's policies. However, the proposal remains controversial outside the cryptocurrency community, and Lummis acknowledged that it might take longer to convince his congressional colleagues.