Fed Chairman Powell: I don’t think the next move may be a rate hike | Binance Morning News (May 15)

● The monthly rate of PPI in the United States rose to 0.5% in April

According to Jinshi.com, the U.S. Producer Price Index (PPI) rose by 0.5% month-on-month in April, exceeding the expected 0.30% and higher than the previous value of 0.20%.

● Fed Chairman Powell: I don’t think the next move may be to raise interest rates

According to Odaily Planet Daily, Federal Reserve Chairman Powell said in a speech that the US PPI data is actually quite mixed, and it is uncertain whether inflation will continue. Restrictive policies may take longer than expected to work to reduce inflation. The United States will reduce the inflation rate back to 2%. Restrictive policies may take longer than expected to work to reduce inflation. In many ways, the policy interest rate is restrictive. It is not believed that the next move may be a rate hike, and it is more likely that the policy interest rate will be maintained at the current level.

● Fed Chairman Powell: The U.S. economy is performing well and GDP is expected to grow at a rate of 2% or higher

According to PANews, Fed Chairman Powell recently gave a speech stating that the labor market is returning to a better balance and that the current labor market is as tight as it was before the COVID-19 pandemic. Powell also mentioned that there was no further progress in U.S. inflation in the first quarter, and that they did not expect the inflation path to be smooth, and that they must wait patiently for policies to work. He expects U.S. GDP to continue to grow at 2% or higher, while expecting inflation to fall month-on-month.

● Wisconsin Investment Committee holds BlackRock IBIT and Grayscale GBTC

According to BlockBeats, on May 14, SEC documents showed that the Wisconsin Investment Committee purchased $99 million worth of BlackRock IBIT in the first quarter. In addition, the committee also held $64 million worth of Grayscale GBTC.

● Analyst: The deadline for the US SEC to approve the Ethereum spot ETF is approaching, and the probability of approval is expected to be 14%

According to BlockBeats, there are only nine days left for the U.S. Securities and Exchange Commission (SEC) to approve or reject the Ethereum spot ETF. Eric Balchunas, senior ETF analyst at Bloomberg, said he does not expect the ETF to be approved before the end of 2025. At the same time, bettors on the on-chain prediction market Polymarket believe that there is a 14% chance that the U.S. SEC will approve the ETF before May 31.

● All indicators of Bitcoin Rune Protocol have dropped by more than 50% in the past two weeks

According to PANews, activity on the Bitcoin Runes protocol has slowed down over the past week, showing that it has failed to gain significant traction among users despite a stellar start last month. Runes further optimizes the Ordinals protocol to make transactions cheaper and faster. According to data from Dune Analytics, all metrics - including fees, new Runes and user activity - have dropped by more than 50% in the past two weeks. Since May 1, only about 5,000 new Runes have been shipped, costing less than $100,000. Runes dominated the Bitcoin ecosystem’s transactions and fees at its peak, accounting for as much as 80% of network activity, but this is now down to 20%. The decline occurred during an overall market downturn, with falling Bitcoin prices and slow altcoin growth, likely contributing to a decline in sentiment toward the new technology.