Fed holds interest rates at 5.25% as FOMC meeting

The Fed holds interest rates, as stated in Jerome Powell’s remarks following the FOMC meeting

Fed holds interest rates after FOMC meeting

Inflation is currently high, causing many hardships, especially for those less able to meet the higher costs of essentials. Since the beginning of last year, the policy interest rate has been raised by 5-1/4 percentage points, and is currently at 5-1/4 to 5-1/2 percent (which means it is also at the necessary level). set as expected).

The FOMC Committee is committed to achieving the 2% inflation target and will adjust policy based on data and economic conditions. It is expected that the FED interest rate will be 5.6% at the end of this year (meaning there is a possibility of another increase), 5.1% at the end of 2024 (meaning it will start lowering next year), and 3.9% by the end of 2025 (meaning printers will operate as usual starting 2025).

Current real interest rates are much higher than the neutral policy estimate (meaning there is still a possibility of no further increase). The Committee will continue to be cautious in assessing the data and outlook, and is willing to raise interest rates further if necessary (i.e. there is still room for an increase ๐Ÿ˜…).

The Other News

  • UniSat is preparing to release brc20-swap in early public testing on September 26, 2023. โ†’ Unisat is the most popular wallet for BRC20 people. If this feature enters the mainnet, it may pull the BRC20 trend back depending on the scale!

  • Eclipse launches Ethereum Layer2 running on SVM (Solana Virtual Machine) and uses ETH as Gas. Eclipse publishes data to Celestia for extended DA. โ†’ Layer2 network but running on Solana causes curiosity, but is quite sketchy ‘:V
  • OKX has passed SOC 2 Type II reporting certification, ensuring user security and compliance meets industry-leading standards.
  • Gamma Swap officially operates mainnet on Arbitrum after 6 months of development โ†’ This one in the LPD basket, has a quite innovative No-IL feature.
  • Petra Wallet on Aptos system cooperates with Coinbase Pay โ†’ Could be a strategic cooperation.
  • Web3 Social application – Phaver releases whitepaper, 31% of Tokens will be used as rewards for users โ†’ The project will sell Tokens to WL on September 21, it sounds like they lack money and need to raise more capital, so they expect an Airdrop not tall ‘:V
  • Base Network TVL surpasses zkSync Era, reaching $538M to win top 3 โ†’ More than 50% TVL thanks to Friendtech?
  • Fuze, a digital asset infrastructure provider headquartered in Abu Dhabi, successfully raised $14M in seed funding
  • Shentu network upgraded to version 2.8.0 today
  • DeBank launches paid features (Pro Features) in the upcoming version, anyone who owns a Web3 ID (mint costs $96) can only use the free trial ‘:V
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