Giannis Andreou

🚨Fed Holds Rates Amidst Inflationary Pressures

👉The Federal Reserve kept the target range for the federal funds rate unchanged at 5.25%-5.50% during its May meeting for the sixth consecutive time, as ongoing inflationary pressures and a tight labor market indicate a stall in progress toward bringing inflation back down to its 2% target this year.

❗️Policymakers acknowledged that while inflation has moderated over the past year, it remains elevated, and there has been a notable lack of further progress towards achieving the central bank's goal in recent months.

⚠️The Fed also indicated that it does not anticipate reducing borrowing costs until it has gained greater confidence that inflation is moving sustainably toward the target.

🔹The Fed has declared its intention to reduce the speed of its quantitative tightening starting from June 1st. #Bitcoin $BTC