Steemychickens article selection week 5

Fed increases rates a quarter point and signals a potential end to hikes

The Federal Reserve on Wednesday approved its 10th interest rate increase in just a little over a year and dropped a tentative hint that the current tightening cycle is at an end.
In a unanimous decision widely expected by markets, the central bank’s Federal Open Market Committee raised its benchmark borrowing rate by 0.25 percentage point. The rate sets what banks charge each other for overnight lending but feeds through to many consumer debt products such as mortgages, auto loans and credit cards.

https://www.cnbc.com/2023/05/03/fed-rate-decision-may-2023-.html

Pepecoin’s Bewildering Rise Turned a Pittance Into an Almost 5,000,000% Meme Coin Profit

A pseudonymous crypto trader bought trillions of the meme coin three weeks ago on UniSwap for $263, and still holds about $9 million of PEPE after selling several million dollars worth, according to data from blockchain platform Arkham.
That's some nice returns!!

https://www.coindesk.com/markets/2023/05/05/pepecoins-bewildering-rise-turned-a-pittance-into-an-almost-5000000-meme-coin-profit/

Russia's Wagner threatens to leave Bakhmut

Russia's main mercenary group announced plans on Friday to withdraw from the eastern Ukrainian city of Bakhmut, but Ukraine said the fighters were reinforcing positions to try to seize it before Russia marks World War Two Victory Day next week.

Wagner Group leader Yevgeny Prigozhin said his men had been starved of ammunition and would expect the army to take their place in Bakhmut next Wednesday, jeopardising what has long been Russia's main target in its attempt to carve up its neighbour.

https://www.reuters.com/world/europe/russian-mercenaries-threaten-quit-ukrainian-city-counteroffensive-nears-2023-05-05/

U.S. Adds 253K Jobs in April, Topping Expectations for 180K

The U.S. added 253,000 jobs in April, up from a downwardly revised 165,000 in March and ahead of economist forecasts for 180,000, according to a report from the Bureau of Labor Statistics (BLS).
The unemployment rate was 3.4%, down from 3.5% in March and against expectations for 3.6%.

Well nothing seems to stopping the labor market.

https://www.coindesk.com/markets/2023/05/05/us-adds-253k-jobs-in-april-topping-expectations-for-180k/

King Charles Crowned in Spectacle Marking Turning Point for UK

Charles III was crowned king, ending his seven-decade wait in a gilded spectacle marking a turning point for the UK and the monarchy as it attempts to adapt to the current era of technological and social change.

Long live the King !!
https://www.bloomberg.com/news/articles/2023-05-05/charles-to-finally-get-his-crown-as-world-tunes-in-to-coronation?srnd=premium-europe

Wall Street Is Getting More Worried About the Debt Ceiling.

Investors and politicians are zeroing in on whether or not the US government can avoid crashing into its statutory debt ceiling and a potentially catastrophic technical default that could follow. From Washington to Wall Street, here’s what to watch to gauge how worried observers should be and when they should be concerned.

https://www.bloomberg.com/news/features/2023-05-05/debt-ceiling-deadline-when-should-wall-street-and-washington-worry?srnd=premium-europe

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