Macro Forecast: Powell’s war against the market’s interest rate cut expectations, Federal Reserve releases minutes of monetary policy meeting | Minutes of monetary policy meeting
Macro Forecast: Powell’s war against the market’s interest rate cut expectations, Federal Reserve releases minutes of monetary policy meeting
According to BlockBeats, US economic data has mixed joys and sorrows over the past week, resulting in continued fluctuations in market expectations for the Fed's interest rate cut. The U.S. July CPI and PPI reports seem to send different signals in showing whether the economy is resistant to the impact of Trump’s comprehensive import tariffs, but both show service inflation stubbornly, with PPI hitting three-year highs month-on-month. Meanwhile, there are obvious differences within the Fed about the September rate cut. Things to note in the coming week include: On Wednesday, Federal Reserve Director Waller spoke at a Wyoming blockchain workshop.
On Thursday, the Federal Reserve released minutes of the monetary policy meeting; the 2027 FOMC voter and Atlanta Fed Chairman Bostic spoke on the economic outlook; the number of initial unemployment claims in the United States to August 16, the US Philadelphia Fed Manufacturing Index in August; the US S&P Global Manufacturing and Services PMI in August. Fed Chairman Powell delivered a speech at the Jackson Hall Global Central Bank Annual Meeting on Friday.
● BlackRock CIO: The Federal Reserve is expected to cut interest rates in September, and the current market is showing the "best investment environment in history"
According to ChainCatcher, BlackRock Global Fixed Income Chief Investment Officer Rick Rieder said that the current market is in the "best investment environment in history" and benefits from strong corporate profits, fixed income product yields and low volatility. He predicts that the Fed may initiate a rate cut in September, with a cumulative cut of 100 basis points in the coming year. Rieder pointed out that despite the high valuation of technology stocks, the MAG-7 component's earnings growth rate is still attractive. He warned the market could be too optimistic about risks such as credit spreads. Analysts believe that if interest rate cuts are implemented, liquidity may boost crypto assets to rise.
● Viewpoint: The convergence of multiple market forces may drive Bitcoin to reach US$150,000 by the end of 2025
According to PANews, global financial consulting giant deVere Group predicts that Bitcoin is still expected to reach $150,000 by the end of 2025 as the momentum of institutional purchases, corporate bond adoption, U.S. policy support and sovereignty returns continue to increase. Nigel Green, CEO and founder of deVere Group, said that multiple forces are coming together, such as institutional capital is pouring in on a record scale through spot ETFs, listed companies regarding Bitcoin as a strategic reserve asset, and the White House is actively supporting the Bitcoin asset class, jointly driving the latest round of rises, which is also the reason why Bitcoin is currently maintaining its $150,000 target by the end of the year.
● View: Ethereum may release a "huge" wave of institutional capital after new Japanese and Korean regulations
According to BlockBeats, on August 16, CNBC said when analyzing this round of Ethereum's rise, the main driver of the rise comes from institutions, and the institutions are currently mainly from the United States. It should also be noted that Asia is embracing Ethereum, and Japan and South Korea are important crypto markets in Asia, which may release a "huge" wave of institutional capital after the new regulations are introduced.
● The ETF Store President recommends buying Bitcoin or Ethereum spot ETF directly
According to PANews, Nate Geraci, president of The ETF Store, tweeted, "If you really believe in Bitcoin or Ethereum, buy it directly, or buy spot ETFs." He believes that financial projects related to 'treasury companies' are not needed.
● Data: NFT market transaction volume increased by 30.09% to US$173.2 million in the past week
According to ChainCatcher, CryptoSlam data shows that the transaction volume in the NFT market has increased by 30.09% to $173.2 million in the past week. NFT buyers surged 190.41% to 214,716, while sellers rose 168.71% to 115,289.
NFT transactions fell 10.65% to 1,553,949 transactions. Ethereum online transaction volume reached US$105.4 million, an increase of 85%; BNB Chain online transaction volume reached US$18.1 million, an increase of 33.48%.
Polygon's online transaction volume reached US$11.5 million, down 35.51%. Solana's online transaction volume reached US$8.9 million, an increase of 10.14%.
