As has been widely expected after the latest economic data, the Fed decided to keep its policy rate steady for the seventh consecutive time at its June meeting, while also dialing back expectations for rate cuts in 2024. Following a two-day meeting of the Federal Open Market Committee (FOMC), Fed chairman Jerome Powell announced that the target range for the federal funds rate would be kept at 5.25 to 5.50 percent, while also acknowledging the "considerable progress" that has been made over the past two years.
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32 sats \ 1 reply \ @TomK 15 Jun
the pressure that Powell is currently exerting on the ECB through this interest rate policy is immense. the market turbulence of the past week shows that something is structurally wrong here, and not just because of the EU elections. Powell is defending more than just interest rates here, it is about supremacy on the currency markets and preparing the dollar for the time after the bifurcation with the BRICS states and the end of the petrodollar.
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42 sats \ 0 replies \ @0xbitcoiner OP 16 Jun
right! Powell's focus seems to be shifting towards the medium/long term.
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37 sats \ 0 replies \ @SatsMate 14 Jun
I think there is a much larger chance for the september cut - and it will come in right before the election of course - Biden "saving the day" wooo.
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16 sats \ 0 replies \ @NaOD 14 Jun
And next year i expect...
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