SVB Ventures Newsletter No. 18
SVB Ventures | Newsletter No. 18 🔸 Macro News ✔ Fed cuts interest rates by 25bps in November After the meeting on November 7, the Federal Reserve’s Federal Open Market Committee (FOMC) decided to cut interest rates by 25 basis points, lowering the rate from 4.75% to 4.5%. Despite this announcement, the cryptocurrency and stock markets remained largely unchanged, possibly because investors had already priced in this rate cut. Fed Chairman Jerome Powell stated that the economy is maintaining steady expansion, although the outlook remains uncertain. He noted that the labor market has shown signs of easing, with a slight increase in the unemployment rate, but it remains low. Regarding inflation, Powell reaffirmed that the Fed's 2% inflation target remains a priority, although current inflation levels are still high. Future interest rate decisions will depend on incoming economic data and growth prospects, balancing risks to employment and inflation. However, he also rem...