According to Binance Research's report, despite signs of slowing economic growth and persistent inflation, the risk of stagnant inflation may be overly concerned given that domestic demand in the United States remains resilient and wage growth is slowing.

The report mentioned that the US GDP grew by only 1.6% in the first quarter, mainly due to the impact of inventory accumulation and import surge. However, after excluding inventory, trade and government spending, the domestic private economy actually grew by 3.1%. In the labor market, the latest data showed that wage growth slowed down, with the average hourly income increasing by 3.9% year-on-year, the lowest level in nearly three years. The unemployment rate rose slightly to 3.9%, but remained below 4%.

In the latest meeting of the Federal Open Market Committee (FOMC), Chairman Powell expressed his incomprehension of concerns about stagnant inflation, emphasizing that no signs of stagnant inflation have been observed. The interest rate adjustment expected by the market may not proceed as expected, but the overall economic background is still positive for growth assets such as cryptocurrencies.