PANews August 27 report, Singapore crypto investment firm QCP Capital stated that the independence of the Federal Reserve is under scrutiny, and Trump may form a team more aligned with his own stance to push for more dovish policies. Currently, Bowman, Waller, and Milan are widely regarded as leaning towards supporting Trump. If Board Member Lisa Cook is dismissed, the number of members in the Federal Reserve Board who align with Trump’s stance will reach four before the appointments of the two vice-chairmen and the next chairman are finalized. After the Jackson Hole meeting, the Federal Reserve is more concerned about the slowing job market, with the severity of employment conditions exceeding the risks of accelerating inflation, laying the groundwork for a rate cut in September.
AI trading barometer Nvidia will release its earnings report after today's close. The 'Mag7', composed of Nvidia and six other major tech stocks, accounts for about 33% of the S&P 500 index weight, and its performance and guidance are key to observing AI spending-driven revenue growth. However, Nvidia is facing increasing resistance, with MIT research showing that 95% of AI projects are unprofitable, and the marginal returns of the new generation of large language models are diminishing. The recent weakness in the cryptocurrency sector is related to large holders selling off; if U.S. stocks continue to decline, traditional financial asset allocators' confidence in Bitcoin may be impacted, potentially triggering a new round of de-risking operations.