# MacroAndCrypto

#FedHoldsRatesSteady
The Fed holding rates steady is the most consequential non-event in global finance. It is a decision by inaction — and for crypto markets specifically, the read-through is more nuanced than either the bulls or the bears typically acknowledge.
What "holding steady" actually communicates:
When the Federal Open Market Committee maintains the federal funds rate at its current target, it is not doing nothing. It is making an active assessment that the balance of risks — between inflation remaining above target and growth weakening under the pressure of elevated rates — does no