Join Our 500,000+ 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 27, 2022
Happy Monday, everyone! In this edition of Ember Nuggets, we'll be covering the fallout of CeFi crypto platforms, a quick look into Web3 cell phones, and a macro market update.
June 24, 2022
Thank you to everyone who has participated in the third season of the mining program! The Ember team is proud to announce the start of Mining Season 4!
June 22, 2022
Welcome to the May recap! It's been a wild month in the space, but we remain bullish on the long-term outlook.