FOMC Notes: Welcome To Confusionville

If you wanted some clarity on what the Fed might be doing in the near future, today’s FOMC notes were not it. 

Here’s a quick breakdown of the notes, which can be found here:

  • The level of certainty regarding the need for further rate hikes was less clear, with participants generally agreeing on the uncertainty.
  • Many participants emphasized the importance of retaining the flexibility to adapt.
  • Several participants expressed that if the economy evolved as anticipated, additional rate hikes might not be necessary.
  • Some participants indicated that there would likely be a need for further rate hikes.
  • Some stressed the importance of not signaling potential rate cuts later this year or ruling out the possibility of further hikes.
  • Participants reached a consensus that inflation remained unacceptably high and was declining slower than anticipated.
  • Staff projections maintain a forecast of a forthcoming recession, followed by a gradual recovery.
  • Discussions also covered challenges in the banking industry and the importance of raising the national debt ceiling in a timely manner.
  • Economic indicators point to a resilient economy with few signs of contraction, although concerns about a potential slowdown persist.

Learn More About...

More in   Crypto

View All

Big Options Expiry This Friday

One of the largest crypto derivatives exchanges, Deribit, has a boatload of $BTC and $ETH options set to expire Friday. 📆

This colossal expiry includes 1.217 million BTC and ETH options contracts. These derivatives could either be a goldmine or a complete bust, depending on the trading trajectory of the top two cryptocurrencies by the week’s end. 

Read It

BitBoy Wants Donations

If this shit with BitBoy couldn’t get any stranger, it has. 💩

Last night, Ben Armstrong (the crypto influencer formerly known as BitBoy) posted this plea:

Read It

More Binance Drama

The courtroom tussle between the SEC)and crypto giant Binance has taken a twist. 🌀

The SEC’s bid to inspect Binance.US’s software, seeking potential links to its global counterpart, was shot down by Judge Zia Faruqui. The SEC alleges that Binance.US, claiming to operate separately from Binance, might have skirted American regulations.

Read It