Crypto Catalysts: Rate Hike Looms as FOMC Begins Latest Monetary Policy Deliberations
The Federal Reserve will take its latest steps in trying to reduce inflation to its long-sought goal of 2%. The June 3% reading continued an encouraging trend, slightly beating expectations and dropping from 4% in May. Just a year ago, inflation was roaring at 9%. Still, the Fed has remained fretful about a still sizzling job market that typically dovetails with rising prices and a stubbornly high core PCE. In remarks to the House Financial Services Committee a week after the Fed halted rate hikes, Fed Chair Jerome Powell noted that “nearly all FOMC participants expect that it will be appropriate to raise interest rates somewhat further by the end of the year.”
Source: CoinDesk
