Fed Holds Steady Amid Crypto Resilience and Global Tensions

The Federal Reserve just dropped the hammer, deciding to keep interest rates locked at their current levels. They're playing it cool, still wary of inflation's sneaky moves.

With a rock-solid job market, steady growth, and inflation that's just a bit too frisky, the Fed's pulling no punches. On June 18th, the Federal Open Market Committee laid down the law, sticking rates between 4.25% and 4.5%, just as everyone expected. But keep your eyes peeled - they say future moves hinge on cold, hard data.

Bitcoin? It's like a phoenix, shrugging off early jitters before the Fed's big reveal. BTC's now chilling at $104,364, up 0.43% in the last day, while the entire crypto market's flexing a 0.22% gain, hitting $3.23 trillion. Talk about resilience!

The Fed's call comes as the Israel-Iran drama heats up, throwing more chaos into the mix. Oil prices are climbing, threatening to fan the flames of inflation all over again, even though it's been cooling off lately.

With all this uncertainty swirling around, it was a no-brainer that the Fed would keep things steady. A whopping 99.9% of folks polled by CME Group bet on the Fed holding tight, despite the White House breathing down their necks.

Trump Keeps the Heat on the Fed

On the very same day, President Trump went on the offensive, calling Fed Chair Jerome Powell "stupid" and predicting he'd keep rates where they are. It's just the latest jab in Trump's ongoing feud with the Fed, pushing hard for a 2-point cut.

"So we have a stupid person. Frankly, you probably won't cut today," Trump fired off. "Europe had 10 cuts, and we had none. And I guess he's a political guy, I don't know. He's a political guy who's not a smart person, but he's costing the country a fortune."

Trump's all about slashing rates to juice up the economy and send stocks soaring. But the Fed? They're sticking to their guns, focused on keeping inflation in check, even with Trump's own tariffs adding fuel to the fire.