ChainCatcher news, according to Jinshi reports, the Federal Reserve's tone became more hawkish last week. It expects the inflation rate in 2025 to be higher than previously estimated, and has reduced the number of anticipated interest rate cuts for next year.

Neil Dutta, an analyst at Renaissance Macro, wrote that in an economic environment that seems to be slowing down, the Federal Reserve could find itself in a difficult position, potentially returning to a more dovish stance. He is skeptical that expectations regarding the Trump administration's policies—Powell acknowledged that some Fed officials have now incorporated this into their considerations—will lead to changes in next year's forecasts, suggesting that the Fed "seems to be taking precautions against potential tariff shocks by slowing the pace of rate cuts." Dutta wrote: "Given that the potential momentum of the economy seems to have weakened, this (approach) is quite dangerous."