A Historic Day for Crypto Policy
The Breakdown
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The Fed's Decision to Hike the Funds Rate
Powell said that fed economists were no longer forecasting a recession because of a continuing strong labor market and higher than expected GDP growth numbers. Powell at one point talking about what different people in the FOMC thought quote I think the median was several for next year and that's going to be a judgment we have to make then a full year from now. Now when it comes to rate cuts basically don't even think about it this year. In our base case their next move will likely be a cut but it will take until 2024 until we see it.
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