Last night's FOMC meeting was uneventful, and Mr. Powell was completely unconcerned about the president's mood, maintaining the decision to keep interest rates unchanged.
Mr. Powell kept saying "let's wait and see," with interest rates firmly held at 4.25%-4.5%. However, the current data is extremely contradictory: hard economic indicators look good, but soft indicators show that inflation and unemployment risks are both rising! The probability of a rate cut in June is only 19.8%, but it skyrocketed to 59.1% in July, leading to a completely divided market opinion.
U.S. stocks first fell and then rose, playing a game of heartbeat, while the crypto market had already digested the impact of this news in advance. The price of Bitcoin experienced a drop and rebound on an hourly basis, but long-term expectations should focus on the easing signals in July.
