POWELL SAYS NEARLY ALL OFFICIALS EXPECT ‘SOME’ FURTHER FED HIKES

Summary from the TLDR Crypto newsletter

The Federal Reserve has decided to pause the interest rate hikes that had been ongoing for 15 months, keeping the current federal funds rate between 5% and 5.25%. Most policymakers believe further tightening is required, with projections suggesting two additional quarter-point rate hikes or one half-point increase by the year's end. Fed Chair Jerome Powell signaled that rates might rise "somewhat further" in 2023 to control inflation, although he refrained from specifying when the next hike could be. Despite this, inflation remains high and above the 2% target set by the Fed.