Another FED meeting, another dog and pony show.
All eyes were on the FED this week to see their rate hike vibe.
I give it Greezed Lightnin' vibes.
You see, Greezed Lightnin' was a Roller Coaster At Six Flags Astroworld here in Houston back in the 90s.
Let me describe it for you:
- First, you take a seat in the coaster, knowing you're in for a wild ride (Print Trillions and drop rates to 0%)
- Then you pull the latch down and buckle up (watch the world melt around you from your actions while you do nothing)
- Then the coaster goes 0 - 60 mph in 4 seconds hitting a quick loop (Jack the rates up to 0.75% trying to cool down historically high inflation)
- The coaster then climbs up the track where it stalls at the peak (Talking about light at the end of the tunnel and rate reductions back down to 0.25% in the near future) This is where we are currently.
- Then, the coaster shoots backwards just as fast as it came hitting the same loop, racing past the entrance for one final scream in front of the next set of riders before it comes to an abrupt stop (economical carnage leading to an entirely new set of leaders as the can gets kicked down the street towards an active highway).
If that doesn't get you wishing you had rode Greezed Lightnin', nothing will!
What does this have to do with crypto?
Well, people are hanging on every word of the FED. Hints, innuendos and body gestures are moving markets by the billions.
The FED is signaling status quo moving forward FOR NOW. But, they are actively monitoring the situation and will be ready to pull back rates when necessary, which is likely in the semi-near future.
If you're interested, here's a video from 1995 of the great Greezed Lightnin' in all its glory!