Federal Reserve policymakers continue to be doubtful that efforts to combat inflation warrant lowering interest rates, even in the face of encouraging April consumer price index (CPI) data.

The most recent Federal Open Market Committee (FOMC) Minutes state that the current price levels have enabled inflation rates to stay well over the Federal Reserve's objective of 2%.

Chair Jerome Powell and other officials suggested against tightening economic measures, despite several stakeholders at the policy meeting indicating consideration for rate rises. In the past, Governor Christopher Waller of the Federal Reserve stated that the organization would not lower interest rates or take a dovish stance until it saw many months of good inflation statistics.

U.S. stocks had a little dip as the FOMC decided to keep the short-term lending rate between 5.25% and 5.5%. 0.27% of the S&P 500's trading was down, according to Google Finance.

Nigel Green, CEO of deVere Group, anticipates that investor mood will be less affected by the Fed's view in the upcoming months. In a note obtained by crypto.news, Green stated, "We expect the markets' bull run which has taken Wall Street's major indexes to fresh highs in recent weeks to continue." She cited a strong earnings season, the recovery in China and Europe, and anticipated rate cuts should the U.S. economy achieve a soft-landing.

The state of Bitcoin is not indicated by a flat cryptocurrency market.

The idea of using Bitcoin (BTC) as an inflation hedge has long since been the focal point of the larger cryptocurrency community. An case for the so-called digital gold is also supported by the analytics.

The largest token in crypto is up over 65% so far this year. Since spot Bitcoin ETFs became available, demand for the currency has surged, and analysts believe the halving has caused a supply shock.

By comparison, during a bull market for US stocks, the S&P 500 has increased by 11.9%. If you go back five years, onlookers will see an even more pronounced growth discrepancy. The S&P 500 has only gained 87.7% throughout that period, whereas Bitcoin has climbed by 781.3 percent since 2019.

Even though the majority of its first 15 years were spent outside of the US financial system, Bitcoin has been proving its worth as an inflation hedge for some time now. To the extent that Wall Street heavyweights like BlackRock and MicroStrategy have entered the fray.