Despite the Fed’s decision to pull back on the most aggressive monetary policy strategy in the U.S. since the 1980s, stocks and crypto crumbled after the press conference. For many, Powell’s slip of the tongue all but guarantees the Fed will continue to raise interest rates this year, likely as early as July, in a bid to cool the economy. Powell said signs show inflation appears to be easing, finally, and will use this … pause … to assess the impact of the Fed’s strategy.
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June 16, 2023 at 02:05AM
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Soft Science Economics Struggles With Hard Money Bitcoin - CoinDesk
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