Join Our 2,000,000+ Community
As expected, the Federal Reserve announced a formal rate hike, the first since 2018, raising rates by 0.25% and in line with expectations on Wall Street. The rate hike was approved by a vote of 8-1 with the one dissenting vote calling for a 0.5% rate hike. US saw 7.9% inflation in February, the highest since January 1982. The inflationary environment has worsened by the war in Ukraine that has led to a spike in commodities prices, and general supply chain issues that have been a side-effect of COVID. In general, the Fed commented on a planned 6 rate hikes over the course of the next few quarters. The Fed expects inflation to cool to 4.3% by the end of the year, but well above the target rate of 2.3%.
There was no immediate impact on the crypto market with Bitcoin and Ethereum holding steady.
Thank you for reading!
Don't forget to come into the app tomorrow to continue learning about crypto!
June 20, 2024
Ember partnered with popular gaming platform Roobet.com as a secure & fun method for mining withdrawals! This feature comes with a HUGE set of upgrades to our withdrawal process.
June 11, 2024
It's time for the May 2024 Recap Newsletter! Here are the product highlights and milestones from the past month.
June 07, 2024
We're thrilled to announce the Ember community's mining & reward stats for the month of May!