The latest speech by Federal Reserve Chairman Powell releases five key signals that have far-reaching market impacts👇

• Elevation of cryptocurrency status: For the first time publicly acknowledging the value of crypto assets, calling them "potential financial innovations," which may be included in the official reserve system, indicating significant adjustments in regulatory frameworks and liquidity management

• Upgrade of dollar system warning: Rare warning about the decline in global trust in the dollar, increased risks of liquidity tightening, revealing that the Federal Reserve is prepared to restart the central bank liquidity swap mechanism

• Significant shift in inflation policy: Officially abandoning the "transitory inflation" statement, acknowledging structural inflation pressures, with 2024 interest rate cut expectations facing repricing

• Employment market turning point: Non-farm data has slowed for three consecutive months, wage growth has peaked, providing space for policy adjustments

• Systemic risk alert: For the first time simultaneously warning of the triple threat of dollar credit, sustainability of U.S. Treasury bonds, and regional bank risks, strongly suggesting the activation of crisis response strategies if necessary