中金：美联储比我们预期的更激进。它的反应函数已经从关注通胀完全转向了关注就业。尽管鲍威尔在记者会上否认抗通胀取得胜利，但他现在似乎只关注就业。美联储对失业率上升的容忍度很低，官员们不想冒险而破坏“软着陆”的美好前景。未来任何超过 4.4% 的失业率都可能触发更多降息。美联储降息将支撑需求扩张，美国经济增长可能继续保持较高增速。中期来看，美国“宽财政，松货币”的政策组合可能增加通胀风险。

<div>中金：美联储比我们预期的更激进。它的反应函数已经从关注通胀完全转向了关注就业。尽管鲍威尔在记者会上否认抗通胀取得胜利，但他现在似乎只关注就业。美联储对失业率上升的容忍度很低，官员们不想冒险而破坏“软着陆”的美好前景。未来任何超过 4.4% 的失业率都可能触发更多降息。美联储降息将支撑需求扩张，美国经济增长可能继续保持较高增速。中期来看，美国“宽财政，松货币”的政策组合可能增加通胀风险。<br><br></div>

中金：美联储比我们预期的更激进

CITIC: The Federal Reserve is more aggressive than we expected. Its reaction function has completely shifted from focusing on inflation to focusing on employment. Although Powell denied victory in the fight against inflation at the press conference, he now seems to be focused only on employment. The Federal Reserve has a very low tolerance for rising unemployment, and officials do not want to risk jeopardizing the prospect of a "soft landing." Any unemployment rate above 4.4% in the future may trigger further rate cuts. Federal Reserve rate cuts will support demand expansion, and the US economy is likely to continue to maintain a relatively high growth rate. In the medium term, the combination of "expansionary fiscal policy and loose monetary policy" in the US may increase the risk of inflation.

<div>CICC: The Fed is more aggressive than we expected. Its reaction function has completely shifted from focusing on inflation to focusing on employment. Although Powell denied victory in the fight against inflation at the press conference, he now seems to be only focused on employment. The Fed has a low tolerance for rising unemployment, and officials do not want to take risks and destroy the bright prospects of a &quot;soft landing&quot;. Any unemployment rate above 4.4% in the future may trigger more interest rate cuts. The Fed&#39;s interest rate cuts will support demand expansion, and US economic growth may continue to maintain a high growth rate. In the medium term, the US policy combination of &quot;loose fiscal and loose monetary&quot; may increase inflation risks.<br><br></div>

CICC: The Fed is more aggressive than we expected

The world of Web3 is in a frenzy every day.
Last night, while people sighed over the sluggishness of "Double Eleven", they were also amazed at the soaring price of Bitcoin. As of last night, Bitcoin had surpassed 89,000 USDT, a record high never seen before.
This is the seventh year of the widespread emergence of Web3 in China.
People like to use the "seven-year itch" to describe the changes in a relationship. As for the Web3 world, the past seven years have seen it go from being a niche to relatively mainstream, and then being widely discussed...

The ups and downs of the crypto world: From a pile of air to $3 trillion

A week has passed since the US election last Tuesday, and Trump's overwhelming victory has also confirmed Musk's status as the primary contributor. Coins related to Musk have also begun to skyrocket, the most prominent being the first token that Musk has publicly <shill>ed: Doge (DOGE).

Since November 5th, Doge has risen by more than 170%, including a 45% increase today, with its market capitalization officially exceeding $60 billion, currently ranking 6th in the market capitalization ranking, firmly occupying the "largest meme coin" throne.

Over the past 7 days...

After rising for 7 consecutive days, Dogecoin’s market value has exceeded 60 billion US dollars. Will it continue to rise?

Polymarket market, users bet the probability of "Bitcoin breaking through $100,000 by the end of the year" has risen to 56%.
'AR' must be translated into 'AR'.