The FOMC minutes came out yesterday.
These are the detailed notes from the Fed’s latest policy meeting – in this case, from May 6 – 7, when they decided to leave interest rates unchanged at 4.25% – 4.50%.
Traders dig into these notes to look for hints about what the Fed’s planning next – specifically, whether a rate cut is on the horizon.
(Because lower rates = bullish for crypto.)
So…are we getting one?
Hate to break it to ya, but it doesn’t look like it.
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According to the minutes, Fed officials are worried about two things getting worse at the same time: inflation and unemployment.
That puts them in a tough spot:
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If they cut rates to help the job market, inflation could rise;
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If they raise rates to fight inflation, unemployment could rise.
A no-win scenario. So, they agreed that the safest thing to do now is to be cautious.
Translation: the Fed will probably keep rates the same when they meet again on June 17 – 18.
And yeah, the markets aren’t thrilled about that.
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On a more positive note, though, Nvidia’s Q1 earnings also came out yesterday – and they crushed it. Revenue and profits were both better than expected.
While that’s not directly tied to crypto, it still matters. Big wins in the tech sector tend to improve overall investor confidence. And when the mood’s good, major cryptos often ride that wave too.
Plus, it’s another W for AI, which feeds into the crypto + AI narrative.
