The Federal Reserve, in its infinite wisdom, has decided to leave interest rates where they are. Apparently, inflation is still a thing, but the Fed’s just not ready to break up with the idea of keeping things “steady.” How… thrilling.
The labor market is looking strong (lucky us!), growth is plodding along, and inflation is kind of hanging around like an awkward guest at a party. So, on June 18, the Federal Open Market Committee gathered around their giant table of financial wizardry and announced they’d keep rates in the 4.25% to 4.5% range. I know, super exciting stuff, right? And, because they’re data-dependent, they’ll make future decisions based on… more data. Riveting.
Meanwhile, Bitcoin (BTC) decided to play it cool and didn’t let the Fed’s announcement rattle it. It’s still doing that thing where it behaves like it knows something the rest of us don’t. Trading at $104,364, it went up by a whopping 0.43% in the last 24 hours. The total crypto market cap rose 0.22% to a mind-boggling $3.23 trillion. Because why not? Everything’s fine.
The Fed’s decision, of course, was made during a particularly “chill” moment in the Middle East, with the Israel-Iran conflict providing a delightful dash of uncertainty. Rising oil prices are like that one friend who keeps showing up uninvited to the party, and, wouldn’t you know it, inflation could be back for an encore performance soon.
So, everyone’s just sitting there, nodding along, saying, “Yes, the Fed will probably keep the rates steady.” Even a poll from CME Group said there was a 99.9% chance of this outcome. Apparently, nobody has time for surprises anymore. A round of applause for predictability!
Trump Weighs In, as Usual
On the same day, U.S. President Donald Trump—who has a lot of opinions on things—decided to weigh in on the whole interest rate debate. He called Fed Chair Jerome Powell “stupid” (you know, the usual), predicting that the rates would stay the same. Shocking!
“So we have a stupid person. Frankly, you probably won’t cut today,” Trump said. “Europe had 10 cuts, and we had none. And I guess he’s a political guy, I don’t know. He’s a political guy who’s not a smart person, but he’s costing the country a fortune.”
Trump, ever the optimist, thinks that slashing rates would magically boost the economy and send the stock market to the moon. But, you know, the Fed is sticking to its guns—prioritizing inflation control (probably because they’ve noticed inflation is still kind of a thing). Even with political pressure from the White House, they’re resisting temptation. Maybe, just maybe, it’s because they remember that the tariffs Trump pushed through his administration helped fuel inflation in the first place. Go figure.
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2025-06-18 21:15