Shiba Memu (SHMU) defies gravity as hawkish Fed jitters remain
The Federal Reserve decided to leave interest rates unchanged. It also signaled that it will deliver another rate hike later this year. Shiba Memu has defied gravity by raising over $3.1 million. Stocks and cryptocurrencies came under intense pressure this week as the Federal Reserve pointed to higher interest rates in the coming months. The Dow Jones, Nasdaq 100, and S&P 500 slipped for four straight days. Similarly, Bitcoin dropped to $26,000, down from this month’s high of almost $28,000. Federal Reserve decision The main catalyst for the performance of stocks, cryptocurrencies and bonds was the latest Federal Reserve interest rate decision. In it, the bank decided to leave interest rates unchanged between 3.50% and 3.25%. At the same time, the committee hinted that it was still concerned about inflation. As a result, the dot plot pointed to another 0.25% hike by the end of the year. If this happens, interest rates wil...