🦅 Federal Reserve Board Closed-Door Meeting Transcript

Powell (Chair): "The overall financial system currently appears robust, but potential risks are continuing to accumulate. In particular, high-leverage speculative funds are closely monitoring every one of our policy moves. If we hastily cut interest rates now, it would be like injecting liquidity into a 'casino,' ultimately only feeding the speculators. The Federal Reserve must adhere to its policy bottom line and remain unwavering."

Jefferson (Vice Chair): "The market has regarded an interest rate cut as a fait accompli, with large amounts of capital betting in advance; this trend is highly risky. If we align with market expectations for a loose policy, we would essentially be condoning risk expansion. Rather than allowing the market to be disappointed in the short term, we need to be more vigilant about the resurgence of inflation."

Barr (Vice Chair for Supervision): "The banking system appears stable on the surface, but risks are brewing in the real estate loan sector among small and medium-sized banks. Easing policies at this moment would only accelerate the rise in leverage. It must be clear: regulatory strength and monetary policy must be kept stringent in sync; one cannot be lacking."

Lisa Cook (Board Member): "The current decrease in inflation data does not mean we have ultimately won the battle against inflation. Wage pressure in the service sector has not yet eased; if we loosen policies now, we may face a more severe resurgence of inflation two years from now than we do now."

Bowman (Board Member, Long-term Hawkish): "In a high-interest-rate environment, small businesses and ordinary families do indeed face pressure, but this is the 'bitter medicine' that must be taken to curb inflation. Any attempt to force the Federal Reserve to compromise through political pressure is unrealistic. The Federal Reserve's decisions will always be independent and free from political interference."

Waller (Board Member): "We must clearly communicate to the market our stance: the core mission of the Federal Reserve is to maintain price stability, not to inflate the prices of assets such as stocks and cryptocurrencies. Speculative behavior betting on a policy shift by the Federal Reserve will ultimately be educated by market principles."

Kugler (Board Member): "I completely agree with the core principle of 'caution.' Latin American countries have repeatedly fallen into the inflation trap due to shortsighted policies and premature easing; the United States must not repeat this mistake. Even in the short term, $BTC $ETH #BitDigital转型 #美联储取消创新活动监管计划 #中国投资者涌向印尼