#美SEC促进加密创新监管体系 Did you understand the latest statement from the Fed? Here’s the conclusion straight up:

**Rate cuts are still on the way**
The current policy is nowhere near real tightening. Inflation is a bit annoying, but employment data is already flashing red. The implication is clear—more liquidity will be injected later.

**Both sides are tough to handle**
A 2.75% inflation rate doesn’t look good, but if you do the math, tariff policies alone contributed 0.5 to 0.75 percentage points, and fortunately, it hasn’t spread to other industries. The real trouble is employment: the unemployment rate has already jumped to 4.4%, and dragging this out will only make things worse.

**Money is the most honest**
As soon as the Fed spoke, the market immediately voted with its feet: the probability of a rate cut in December soared from 30% to nearly 60%, and all kinds of assets took off. However, there’s still significant internal disagreement, with several officials clearly opposing consecutive easing moves.

**Data is king**
Although inflation isn’t fully under control yet, the job market is already close to its breaking point. Chances are high that cuts will continue in the coming months, but exactly when action will be taken still depends on whether the economic data cooperates.

**Wake up, everyone!** For now, just focus on two things: whether inflation will make a comeback, and how much the job market will deteriorate. Everything else is just noise. For the crypto market, rising expectations of easing usually mean improved liquidity, but don’t forget the lag effect of policy shifts.
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