FOMC Meeting: Fed Pauses Interest Rate Hikes

For the 1st time in over a year the Fed announced it will pause interest rate increases.

-> short-term rate at a 22-year high of 5.25% to 5.5%.

->Chairman Powell sited slowing inflation growth as a reason for the pause

-> Said, economy remaining robust, not likely to influence another rate hike.

The Truth:

The economy is in trouble and they can't afford to keep raising interest rates, so this beginning of a pivot was inevitable. 🧐

#TheFed #InterestRates #Inflation #bitcoin #plabchain