Clarity Act falls short in Senate, 49–50, stalling crypto regulation

00:00 Speaker A

the FOMC decision. I chose this article because it really gets to the heart of this. Trump wants lower rates, his new Fed chairman is poised to raise them.

00:08 Speaker A

This announcement comes at 2:00 p.m. and markets are strongly expecting a quarter point rate hike, which would be the first increase since 2023. Markets pricing this at like 93% right now.

00:20 Speaker A

By the way, I'm not saying that they uh won't cut because, I mean, won't hike because maybe they have to, but I still will be kind of a little bit surprised to see Warsh go against Trump and hike, which is why I chose that particular article there.

00:32 Speaker A

I mean, Trump appointed Kevin Warsh expecting lower rates. And now Warsh has to face that pressure on one side, but the actual market and doing the right thing pressure probably on the other side, and all of that could hurt his credibility here.

00:50 Speaker A

Is the Fed independent and will he hike rates because that's what the data says? Or is Kevin Warsh, in fact, a sock puppet who was put in position to get rates down on behalf of of Donald Trump.

01:02 Speaker A

It's important to remember that he does not decide this on his own. There is a committee and three of them already wanted hikes at the last meeting. It will only take seven of them this meeting to get hikes even if he decides that he wants to keep rates steady.