FOMC Summary:

The Fed decided to keep rates unchanged at 4.25-4.5%

They see unemployment rising slightly from 4.0% to 4.4% by the end of the year.

Economic growth is expected to soften, but inflation is expected to remain elevated - especially the inflationary impacts that tariffs will create.

The Fed will be easing back on QT (Selling assets off their balance sheet), but not starting QE. There will be some Treasury flows that continue.

2 rate cuts expected this year - 1 in May or July, and 1 between September and December.

Target is to end year at 3.75-4.00%

US Markets:

Strong performance today

- S&P +1.3%, NDQ +1.5%, DJI +1.1% and IWM +1.5%

- S&P 500 getting really close to that 200-Day MA retest that we are waiting for to judge the reaction.

BTC:

As usual we saw price move in both directions during Powell's speech and Q&A session.

The CME Gap from 2 weeks ago has been mostly filled.

Still no clear bias on direction, we will have to see what markets do from here.

My expectations is for the rest of the CME Gap to get filled, and then hopefully we should be able to gauge direction