Hello, hustlers!
In today's newsletter, we'll explore three interesting stories from the world of finance, AI, and crypto.
The Fed raises interest rates by 25 basis points.
Microsoft expands Bing Chat to Chrome and Safari.
Billionaire venture capitalist Tim Draper believes that Bitcoin will rise above fiat currencies.
We'll break down each story in more detail below:
Inflation fighting: Fed hikes interest rates by 25 basis points
The Federal Reserve raised interest rates by 25 basis points on Wednesday, in an effort to cool inflation. This is the 11th rate hike of the current tightening cycle, and brings the target range for the federal funds rate to 5.25%-5.50%.
Here are some key points from the Fed's statement:
The Fed is "highly attentive to inflation risks."
The Fed is "prepared to take stronger action if inflation fails to moderate."
The Fed is "recognizing that the economic outlook is highly uncertain."
The Fed is "committed to returning inflation to its 2% objective."
The Fed's decision to raise interest rates is a sign that they are serious about fighting inflation, which is running at a 40-year high. However, it is also a sign that the economy is slowing down.
The Fed is walking a fine line between raising interest rates enough to cool inflation without raising them so much that they cause a recession.
Microsoft expands Bing Chat to Chrome and Safari
Microsoft is expanding its Bing Chat feature to Chrome and Safari browsers. The feature, which is currently in testing for select users, allows you to chat with Bing and get answers to your questions directly in your browser.
Bing Chat is a new and innovative way to get answers to your questions. It is still in testing, but it has the potential to be a valuable tool for users.
Bing Chat is powered by artificial intelligence, so it can learn and improve over time.
Bing Chat is private, so your conversations with Bing are not shared with anyone else.
Bing Chat is free to use.
Billionaire venture capitalist believes in BTC
Tim Draper, a billionaire venture capitalist, believes that Bitcoin will rise above fiat currencies. He compares the early days of the internet to the current state of Bitcoin, saying that both technologies were met with scepticism at first but have since become essential parts of our lives.
Draper believes that Bitcoin is a superior technology to fiat currencies because it is decentralized and secure. He argues that having a centralized government in charge of currency is inefficient and that Bitcoin will eventually become the global currency of choice.
Tim Draper is a respected figure in the financial industry, and his prediction is certainly worth considering.
However, it is also important to remember that Bitcoin is a relatively new and volatile asset.
The future of Bitcoin is uncertain, but it is certainly an exciting time to be involved in the cryptocurrency space.
What to watch for next
The Fed will continue to meet and assess the need for further interest rate hikes in the coming months.
Microsoft will continue to test Bing Chat and may roll it out to more users if it is successful.
Tim Draper and other Bitcoin enthusiasts will continue to argue for the adoption of Bitcoin as a global currency.
We will keep you updated on all of these stories as they develop.
Until next time,
Zain from Team Inspired Analyst
Disclaimer: This is not financial advice or recommendation for any investment. The content is for informational purposes only, you should not construe any such information or other material as legal, tax, investment, financial, or other advice.
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