The Federal Open Market Committee announced the biggest increase to the federal funds rate in a quarter century, the Bank of Japan stepped up its “yield curve control” efforts, and the European Central Bank met on an emergency basis to address Italy and “fragmenting” bond yields, as monetary policymakers continue to struggle with a crazy, mixed-up macro environment. U.S equity indexes held onto solid gains following the Fed’s announcement of a 75-basis-point rate hike, and yields on 2-year, 10-year, and 30-year government bonds declined. Seeking credibility, the Fed said it’s “strongly committed” to returning inflation to its 2% target. Joseph “The Fed Guy” Wang joins Real Vision’s Andreas Steno Larsen to discuss what today’s moves by the BoJ, the ECB, and the Fed mean for markets and the economy. We also share a segment from today's Crypto Unwrapped episode about Bitcoin, Ethereum, and recent price action in that volatile space. Want to submit questions? Drop them right here on the Exchange: https://rvtv.io/3mNNFzO. Watch the full Crypto Unwrapped episode here: https://rvtv.io/3xT3viR.
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