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TLDR

MARKET RECAP → Stocks ended up just about flat on Wednesday after the U.S. central bank left rates unchanged following expectations, however Fed chair Jerome Powell said monetary policy still has to find a way to restrain the economy.

POWELL HITS THE PAUSE BUTTON → The Fed kept rates steady and trimmed its 2025 cut outlook to one. Powell played it safe, stressing data dependence as inflation cools—slowly. Markets adjusted, eyeing fewer and later cuts.

STABLECOIN BILL LIFT-OFF → Congress just gave stablecoins the green light—Circle (CRCL) soared nearly 500%, Coinbase (COIN) jumped double digits, and Wall Street’s betting big on a $2 trillion crypto payment future.

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Read more about the “big, beautiful bill” that’s stirring up a fiscal frenzy.

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Finance

Powell Hits the Pause Button

The Federal Reserve kept its benchmark interest rate unchanged, as widely expected, marking the seventh straight meeting without a cut: Chair Jerome Powell signaled that while inflation has cooled slightly, it’s not enough to warrant a rate reduction just yet. The Fed’s updated projections now point to only one rate cut in 2025, down from the three cuts forecast in March.

Powell struck a cautious tone, emphasizing the need for more data before loosening policy: He acknowledged “modest further progress” on inflation but warned that price stability isn’t locked in. Markets wobbled initially but recovered as investors digested the Fed’s commitment to a data-dependent path.

Wall Street recalibrated its rate-cut bets, while Treasury yields rose and stocks churned: Traders now see a slim chance of a September cut, pushing expectations further into the year. The Fed’s message: lower rates are coming—but not on autopilot.

Crypto

Stablecoin Bill Lift-Off

Federal Framework Breakthrough: The Senate passed the GENIUS Act on June 18, 2025, with a 68–30 bipartisan vote. That clears the way for federal regulation of U.S. dollar-backed stablecoins—mandating full reserves, monthly disclosures, and anti‑money‑laundering controls—marking a milestone in crypto oversight.

Stocks Skyrocket: Circle (CRCL) stock has leapt nearly 480% since its June 5 IPO, trading around $180–190 after a roughly 20–27% surge. As USDC’s issuer, Circle directly benefits . Coinbase (COIN) shares gained ~11–14%, buoyed by its 50% share of USDC revenue.

Mainstream Momentum: The GENIUS Act paves the way for stablecoins to integrate into banks, fintech, retailers, and payment giants like Visa (V) and Mastercard (MA). Experts forecast the U.S. stablecoin market could hit $2 trillion within a decade.

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