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#美国经济与货币政策 Analyzing the recent remarks of Fed officials, it can be seen that there are differences within regarding further interest rate cuts. Musalem predicts a strong economic rebound early next year and advocates for cautious rate cuts; Daly believes that an open attitude towards rate cuts is necessary; Bostic warns that rate cuts may fuel inflation. These statements reflect the Fed's trade-off between inflation pressure and economic growth. Currently, it seems that the likelihood of pausing rate cuts in December is high. It is recommended to closely monitor future economic data and officials' speeches to assess the policy direction. From an on-chain capital flow perspective, changes in dollar liquidity may affect the trends in the crypto market, which is worth continuous tracking.