As expected by investors in the crypto market, the Federal Reserve finally stopped raising interest rates. After announcing on Tuesday that the year-on-year growth rate of CPI in May in the United States slowed more than expected, which was the lowest growth rate in more than two years, it was regarded as the mouthpiece of the Federal Reserve. Nick Timiraos, a reporter from the New York Times, wrote on Tuesday that overall inflation slowed in May, but underlying price pressures are still firm. Although the Fed is expected to stay on hold this week, concerns about inflation may still prompt Fed officials to signal that they are ready to restart interest rates this year. In the economic outlook, interest rate expectations were raised, thereby emphasizing the expectation of interest rate hikes. Afterwards, the market also raised the probability of the Fed's pause in raising interest rates to more than 90%. Subsequently, on Wednesday, June 14, Eastern Time, the Federal Reserve Monetary Policy Committee FOMC announced after the meeting that the target range of the federal funds rate will remain unchanged at 5.0% to 5.25%, keeping this policy rate at the highest level in 16 years . Like the previous seven meetings since July last year, this interest rate decision was unanimously approved by FOMC voting members. This is the first time the Fed has paused in this cycle of rate hikes. Since March last year, the Federal Reserve has decided to raise interest rates in 10 consecutive meetings as of May this year, and announced a 25 basis point rate hike after three consecutive meetings. The Fed's interest rate decision was in line with market consensus expectations. Although the Federal Reserve suspended interest rate hikes at this meeting, it released a hawkish signal. It hinted in the dot plot and economic outlook that there may be two more interest rate hikes this year. The Fed raised interest rate peak expectations, higher than most economists and investor expectations.