#加密市场反弹# Federal Reserve Chairman Powell pointed out at the Jackson Hole conference yesterday that employment risks are on the rise, while inflation still poses pressure, emphasizing the adoption of a more flexible inflation target framework to adapt to economic changes. This suggests that the increasing economic risks provide a more substantial rationale for rate cuts, indicating a shift to a dovish stance. Market expectations for a rate cut by the Federal Reserve in September have significantly intensified.

The crypto market immediately responded with a rise, and Ethereum hit its ATH right away, showing no regard for any decorum, as the saying goes, "a big bullish candle, thousands of troops come to meet you." This signal pushed the crypto market to rebound rapidly. The expectation of interest rate cuts helps alleviate liquidity pressure on the dollar, bringing benefits to high-risk assets such as Bitcoin, and the "anti-inflation" narrative has once again gained attention. However, Powell also reiterated that policies will depend on data and did not relax vigilance against financial risks.
The market focus will next be on the September FOMC meeting, which may release clearer policy signals.