Chamath @ 00:42:48Right
economy
At the May 2022 FOMC meeting, the Federal Reserve will raise the federal funds rate target by 50 basis points.
So they're probably going to tighten 50 basis points in May. That's relatively well expected.View on YouTube
Explanation
The May 3–4, 2022 FOMC meeting raised the federal funds rate target range from 0.25–0.50% (set at the March 16, 2022 meeting) to 0.75–1.00%. That change is exactly a 0.50 percentage point (50 basis point) increase. (federalreserve.gov)
Contemporaneous coverage from financial news outlets also described this as a 50 basis point hike, the largest single increase in over two decades. (bankrate.com)
Since Chamath predicted that at the May 2022 FOMC meeting the Fed would raise the federal funds rate target by 50 basis points, and the Fed in fact did raise it by 50 basis points, the prediction was right.