Episode Details

The Federal Reserve maintained its interest rate at 3.50% to 3.75%, aligning with expectations. The Fed raised its inflation forecast for 2026 to 2.7%, up from 2.4%. The dot plot suggests one rate cut in 2023 and another in 2024. The decision passed 11-1, with one member advocating for a small 25 basis point reduction. Markets reacted negatively, with bitcoin dropping to around $71,600 and U.S. stocks falling 0.55%. The ten-year Treasury yield rose to 4.21%. The Fed faces challenges due to slowing jobs, inflation above target, and surging oil prices to nearly $100 per barrel. Fed Chair Jerome Powells press conference at 2:30 PM Eastern time is anticipated for further insights.

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