Bitcoin jumps to $40,000 after Fed chair Powell rules out bigger rate hikes
The price of bitcoin climbed about 6% Wednesday after the Federal Reserve raised rates by half a point —the biggest hike in about 20 years — as expected.Bitcoin began climbing ahead of the end of the Federal Open Market Committee's meeting. The half-point hike was widely expected by many. Its surge accelerated after Fed Chair Jerome Powell ruled out the possibility of a 75-basis-point increase."A 75-basis-point increase is not something that the committee is actively considering," Powell said. "I think expectations are…