No Pivot and Higher Terminal Rate Talk at FOMC Send Markets Back Down

<p><em><span style="font-weight: 400;">This episode is sponsored by</span></em> <a href= "https://pro.nexo.io/?utm_source=coindesk&utm_medium=fixed&utm_campaign=coindesk_podcast_pro_oct22"> <em><span style= "font-weight: 400;">Nexo.io</span></em></a><em><span style= "font-weight: 400;">,</span></em> <a href= "https://www.circle.com/en/usdc/businesses"><em><span style= "font-weight: 400;">Circle</span></em></a> <em><span style= "font-weight: 400;">and</span></em> <a href= "https://ftxusapp.onelink.me/LKX9/breakdown"><em><span style= "font-weight: 400;">FTX US</span></em></a><em><span style= "font-weight: 400;">.</span></em></p> <p> </p> <p><span style="font-weight: 400;">On today’s episode, NLW covers Wednesday’s Federal Open Market Committee meeting. Nominally the big news was the fourth consecutive 75 bps rate hike. But the big news was Federal Reserve Chair Jerome Powell used the presser as an occasion to again remind markets that any talk of pivots or changes is premature. In fact, he shared that data received since September was likely leading the Fed to revise upwards estimates of where it believes the peak federal funds rate will need to land. </span></p> <p><em><span style="font-weight: 400;">-</span></em></p> <p><a href= "https://pro.nexo.io/?utm_source=coindesk&utm_medium=fixed&utm_campaign=coindesk_podcast_pro_oct22"> <strong><em>Nexo Pro</em></strong></a> <em><span style= "font-weight: 400;">allows you to trade on the spot and futures markets with a 50% discount on fees. You always get the best possible prices from all the available liquidity sources and can earn interest or borrow funds as you wait for your next trade. Get started today on</span></em> <a href= "https://pro.nexo.io/?utm_source=coindesk&utm_medium=fixed&utm_campaign=coindesk_podcast_pro_oct22"> <em><span style= "font-weight: 400;">pro.nexo.io</span></em></a><em><span style= "font-weight: 400;">.</span></em></p> <p><em><span style="font-weight: 400;">-</span></em></p> <p><a href= "https://www.circle.com/en/usdc/businesses"><strong><em>Ci