#加密领域动态 The Fed Chairman Powell delivered an important speech, conveying multiple key messages, which led to a positive market reaction, and the digital money markets for ETH, BNB, SOL, etc. became active.

Powell's speech this time is rich in content and of great significance, mainly covering the following aspects:

First, he admitted that the actual growth rate of the U.S. economy exceeded expectations, and data before the government shutdown showed that economic activity was hotter than predicted, but this strong growth has instead put greater pressure on the job market.

Secondly, Powell clearly stated that this economic situation is a reasonable basis for the interest rate cut decision in September, and this statement essentially confirms that the interest rate cut cycle is now irreversible.

Third, the Fed's balance sheet reduction plan is expected to be completed within a few months, which means that a major uncertainty that the market has faced for a long time is about to be eliminated.

Fourth, Powell rarely engaged in self-reflection, stating that perhaps the asset purchase program should have been ended earlier in the post-pandemic period, indirectly acknowledging that previous monetary policy may have been too loose.

Finally, he specifically mentioned the risks that tariff policies may bring, warning that this could reignite inflationary pressures.

Overall, despite strong economic performance, pressure on the job market, and persistent inflation risks, Powell's overall tone in this speech is dovish, suggesting that interest rate cuts will continue, the balance sheet reduction is about to end, and market liquidity is expected to return.

The market signals have become very clear: the liquidity easing period has begun, and various risk assets may welcome good development opportunities. Investors need to closely monitor market trends and seize potential investment opportunities.