The Fed may be done hiking: Time to buy Shiba Memu?
The biggest stories of this week were the Federal Open Market Committee (FOMC) meeting on Wednesday followed by the US non-farm payrolls (NFP) data on Friday. These two events set the tone for what could be the next bull run in the crypto and stock market. FOMC and US NFP data The Federal Reserve concluded its two-day monetary policy meeting on Wednesday. And was widely expected, the bank decided to leave interest rates unchanged between 5.25% and 5.50%, the highest point in more than two decades. In the accompanying statement, the bank left the door wide open for another rate hike in December or the first quarter of 2024. However, in the press conference, Jerome Powell hinted that the Fed could be done hiking rates. At the same time, he noted that the bank would continue being data-dependent. In this regard, he said that the bank would focus on jobs and inflation numbers that will come out before the December meeting. The NFP data published on Fr...