This month's FOMC meeting is expected to result in a 50 basis point interest rate hike.In today's episode, NLW looks at the macro as Federal Reserve Chair Jerome Powell discusses monetary policy this week before the Senate and House of Representatives banking committees. The markets are betting on a 50 basis point rate hike at the next Federal Open Market Committee meeting based on his Tuesday comments.-“The Breakdown” is written, produced and narrated by Nathaniel Whittemore aka NLW, with editing by Michele Musso and research by Scott Hill. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. Music behind our sponsor today is “Foothill Blvd” by Sam Barsh. Image credit: Anna Moneymaker/ Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.Join the most important conversation in crypto and Web3 at Consensus 2023, happening April 26-28 in Austin, Texas. Come and immerse yourself in all that Web3, crypto, blockchain and the metaverse have to offer. Use code BREAKDOWN to get 15% off your pass. Visit consensus.coindesk.com.See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.