See how it sat at 0-0.25% for basically all of Obama's term?

https://static01.nyt.com/images/2018/03/21/us/fed-rates-powell-promo-1521650995861/fed-rates-powell-promo-1521650995861-articleLarge-v3.png

Then Trump becomes president and they go crazy jacking it up.

This rate determines the growth of money supply, this is them deciding to print new money or not, basically.

By raising the rate so much as they've done, they've basically put out the pressure to stop making money, so the money supply is tightening. So money is harder to come by, so you don't have enough money to pay for the things you need to buy. It's a deflationary pressure, similar to the Great Depression of the 1930s in the US

Seeing them STOP raising the rates, is at least a vague signal to me that maybe they're not trying to crash the economy so hard after all, go through the downside of another "business cycle", and blame it all on the convenient scapegoat of Trump. Maybe they're tempering their approach a bit.

Fed rates are like the pulse of our economy, in a system where they completely own the fiat money creation ability and rates.