inflation

According to Jinshi reports, Federal Reserve Chairman Powell stated that the commitment to reduce inflation to 2% will never end, and he will steadfastly pursue this goal.

According to Jinshi, Federal Reserve Chairman Powell stated that whether consumption will decline to offset the impact of inflation remains an unresolved issue.

According to Jinshi reports, Federal Reserve Chairman Powell stated that every supply shock has the potential to raise inflation and unemployment rates.

According to Jinshi reports, analysts Anna and Stuart pointed out that today's decision to maintain interest rates is expected, but what stands out is the number of dissenting opinions. Powell presided over the meeting with the most dissent during his tenure, and this policy statement elevated the description of inflation from "somewhat elevated" to "elevated." The apparent divisions within the committee highlight the challenges Kevin Warsh faces in achieving the goal of interest rate cuts; unless there is a significant deterioration in the labor market, the committee is unlikely to act quickly on rate cuts.

According to Jinshi reports, Federal Reserve Chairman Powell stated that the outlook for rising core inflation is realistic.

According to Jinshi reports, Federal Reserve Chairman Powell stated that he does not believe the labor market is the source of inflation.

According to Jin Shi reports, Brian Jacobsen, chief economist at Annex Wealth Management in Menomonee Falls, Wisconsin, stated that it is not surprising to see divisions within the Federal Reserve, but the divisions being so apparent is surprising. He mentioned that if Powell's last meeting was like this, imagine how loud the opposing voices would be under Waller's leadership. Hawkish traces can be seen everywhere in the wording regarding high inflation, and some Federal Reserve officials believe that raising interest rates might solve the inflation problem, even if it means paying a price in the labor market.

According to Jinshi reports, Federal Reserve Chairman Powell stated that the surge in energy inflation has not yet peaked.

According to Jinshi reports, Federal Reserve Chairman Powell stated that long-term inflation expectations are consistent with the 2% target.

According to Jinshi reports, Federal Reserve Chairman Powell expects the PCE inflation rate to reach 3.5% in March.

According to Jinshi reports, Federal Reserve Chairman Powell stated that recent inflation expectations have risen.

According to Jinshi reports, Federal Reserve Chairman Powell stated that part of the current high inflation is due to rising energy prices.

According to Jinshi reports, analyst Audrey stated that given the recent strong economic performance and the ongoing inflationary trend caused by rising energy prices, the "clearly hawkish" shift made by some FOMC members is reasonable. She pointed out that from the perspective of the dollar, this indicates that the bearish expectations driven by factors such as Federal Reserve policy and yields are incorrect, while also confirming that the bullish price trend so far is justified.

According to Jinshi reports, the Federal Reserve described inflation as "high," whereas in previous statements it was referred to as "slightly high," and noted the impact of global energy prices.

According to The Block, macro investor and hedge fund manager Paul Tudor Jones stated in an interview on the podcast "Invest Like the Best" that Bitcoin is "the undisputed best inflation hedge." He pointed out that the total supply of Bitcoin is capped at 21 million, with less than 1 million left to mine, and combined with its decentralized nature, its scarcity far exceeds that of gold (which sees an annual supply increase of about 2%).Jones began investing in Bitcoin as early as 2020 to hedge against the risks of central banks overprinting money, and the following year expressed a desire to increase his allocation to 5%. However, he also highlighted potential risks, including "kinetic conflicts" involving cyber warfare that could lead to electronic system failures, as well as security threats posed by breakthroughs in quantum computing technology.

According to Jinshi News, Derek Halpern, a bank analyst at Mitsubishi UFJ Financial Group, stated in a report that if the Federal Reserve acknowledges that the Iran war driving up energy prices could lead to rising inflation, the dollar may strengthen. He pointed out that this interest rate decision could be the last meeting during Chairman Powell's tenure, and it may emphasize that the risks to price stability are accumulating. This could lead to a sharp rise in the front end of the U.S. yield curve and reinforce initial signs of improving dollar demand.

The gaming public chain Ronin announced that it will migrate to Ethereum Layer 2 on May 12, during which there will be an approximately 10-hour downtime for on-chain operations. Normal operations will resume after the migration is completed, and its underlying architecture will be built on the OP Stack, with EigenDA integrated as the data availability layer.It is recommended that users unstake RON before the migration date, or the system will automatically unstake for users after the migration is completed. The core goal of this migration is to allow Ronin to leverage Ethereum's security, data availability, and finality capabilities, while injecting mature on-chain gaming infrastructure into the Ethereum ecosystem. As the underlying network for well-known on-chain games like Axie Infinity and Pixels, this move is seen as an important milestone in its ecological development.After the migration is completed, the annual inflation rate of RON will be reduced from over 20% to below 1%, and the treasury will gain continuous income from staking, Sequencer net revenue, and Marketplace fees (which will increase from 0.5% to 1.25%).

According to Jin Shi's report, Mike Sanders, the head of fixed income at Madison Investments, stated in a report that the market will focus on how Federal Reserve Chairman Powell describes the committee's consensus view on the recent rise in inflation and the future policy path, especially as Powell's term as chairman is coming to an end. He noted that rising oil prices could lead to persistently high inflation rates, and investors are eager to understand the committee's view on risk balance.

According to Jinshi reports, former Federal Reserve Vice Chairman and economist Roger Ferguson stated that the labor market is currently in a generally stable state, but inflation remains high at 3%, and much work still needs to be done. He expects the Federal Reserve to temporarily hold its position and observe the development of the situation. Goldman Sachs economist David Mericle also expects that the statement after the Federal Reserve meeting will acknowledge the improvement in the job market and the rise in inflation, but the policy guidance will remain unchanged, with most expecting to maintain interest rates.