● Fed Chairman Powell said the time has come for policy adjustments
According to Odaily Planet Daily, Federal Reserve Chairman Powell said that the time has come for policy adjustment, and he does not seek or welcome further cooling of the labor market, and his confidence in inflation returning to 2% has increased.
According to BlockBeats, on August 23, Federal Reserve Chairman Harker said that we need to start cutting interest rates and do not believe that there is a significant risk of a deterioration in the labor force. In our view, the unemployment rate will not exceed 5%.
● Standard Chartered Bank: Powell's remarks suggest a 50 basis point rate cut in the future
According to Jinshi Data, Steve Englander, head of global foreign exchange research and macro strategy at Standard Chartered Bank, said that the market's reaction to Powell's remarks was correct. Powell emphasized that the inflation target is in sight and is concerned about the labor market, but did not give a specific timetable. This suggests that interest rates may be cut by 50 basis points in the future.
According to Jinshi Data, Federal Reserve Chairman Powell emphasized the importance of US employment data for the upcoming monetary easing cycle at the Jackson Hole conference. Stephen Stanley of Santander Bank said this increases the importance of August employment data released on September 6. He pointed out that after sluggish employment growth in July, strong data in August may dispel the idea of a 50 basis point interest rate cut next month. Stanley believes that the employment report may be more critical than the August core CPI data.
● Viewpoint: Bitcoin's next resistance range is between $64,045 and $66,250
According to BlockBeats, on August 23, @ali_charts cited the glassnode platform UTXO realized price distribution data. If Bitcoin can maintain the support level of $60,365, the next key resistance levels to pay attention to are $64,045 and $66,250.
● Sony Group and Startale Labs launch Soneium Layer 2 network
According to BlockBeats, on August 23, Sony Block Solutions Labs, a joint project of Sony Group of Japan and Startale Labs of Singapore, announced that it would launch the Soneium Layer 2 network on the Ethereum blockchain. Soneium is expected to be launched on the test network in the next few days, using Optimism Rollup technology and built using the OP Stack of the Optimism blockchain ecosystem. It is reported that the CEO of Startale Labs is Sota Watanabe, who is the director of Sony Block Solutions Labs and the co-founder of Astar Network.
