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Do Rate Hikes Matter? Bitcoin Traders Learn How Fed Moves Markets in Twitter Era

“We got the CPI data and also some data on inflation expectations late last week, and we thought for a while, and we thought, ‘Well, this is the appropriate thing to do,'” Powell elaborated. “So, then the question is, What do you do? And do you wait six weeks to do it at the next meeting? And I think the answer is, that’s not where we are with this. So we decided we needed to go ahead, and so we did.”