Let's review what old Bao said last night

In fact, there are three core messages:

1. The new policy on interest rates is hindering the interest rate cut process

He clearly stated that if it were not for the uncertainty brought by the new policy on interest rates, the Federal Reserve could have started cutting rates earlier. The current decision to pause rate cuts is largely waiting for the clarification of the new policy on interest rates.

2. Divergence in timing of rate cuts

Regarding the rate cut in July, the Federal Reserve maintains a relatively certain stance; however, whether to continue rate cuts in September holds a more open and flexible attitude. This difference in timing reflects that the Federal Reserve is adopting a gradual approach of "taking one step at a time."

3. Solid economic fundamentals

Old Bao particularly emphasized that the economy is showing enough resilience, with the job market remaining stable. This means that the current labor market does not urgently need to stimulate through rate cuts, allowing the Federal Reserve more room and time for policy adjustments. #加密市场反弹 #鲍威尔半年度货币政策证词 #以色列伊朗冲突 #BTC #ETH