ChainCatcher news, according to Jinshi reports, San Francisco Federal Reserve President Mary Daly believes that cryptocurrencies should be regarded as an independent asset class, rather than being conflated with gold as is often the case.Daly stated, "I think cryptocurrencies are a complex thing, and the service we need to provide for everyone is to truly interpret what it means. Once we do that, we can define it; it can be a currency, it can be a medium of exchange, it can be a stock, an asset that holds value or sometimes depreciates. We just need to define those terms."Daly added, "So I don't think it is like gold; it sometimes has gold-like characteristics, but I don't think it is an asset like gold."

ChainCatcher news, according to Jinshi reports, Federal Reserve official Daly stated in an interview that she would be satisfied with two rate cuts in 2025. She mentioned that both the economy and policy are in good shape, and the Federal Reserve can return to a more typical gradual policy approach.The recent interest rate decisions have been difficult, which seems to echo Chairman Powell's remarks at the FOMC press conference. She noted that some companies are building up inventory ahead of Trump's proposed tariff policies. It is hard to say whether tariffs will lead to inflation; more importantly, it is about the scope and timing.

ChainCatcher news, according to Jinshi, San Francisco Fed President Daly stated on Friday that the decision to cut interest rates by 25 basis points again this week was a "difficult decision," and she agrees with Fed Chairman Powell's view that caution is needed in future policy adjustments."For me, the most important thing is that we need to recalibrate our policy. I think making this decision was very difficult. Now I feel that we have moved past the recalibration phase and entered the next phase, where we will truly focus on the information received."

ChainCatcher news, according to Jinshi reports, Federal Reserve's Daly stated that I am confident that the 100 basis points cut so far is correct, and the calibration phase has ended. The Federal Reserve is very satisfied with the forecast of two rate cuts in 2025.Now, before further rate cuts, we will wait cautiously. My prediction is that the number of rate cuts next year will be much less than we previously expected.

ChainCatcher news, Fed's Daly stated that the Federal Reserve is very satisfied with the prediction of two rate cuts in 2025. (Jin Ten)

ChainCatcher message, Federal Reserve's Daly stated, "We don't know what the incoming administration will do, so I'm concerned about the data." (Jin Ten)

ChainCatcher message, Fed's Daly stated that the Fed will continue to adjust policies to adapt to economic conditions; further rate cuts are expected in the future; no reasons have been seen to stop rate cuts; monetary policy is certainly still tight; does not want to see further deterioration in the labor market; the recent rate cut by the Fed passed by a narrow margin, and I strongly supported a 50 basis point cut at that time.

ChainCatcher news, according to Jinshi reports, Federal Reserve's Daly stated that the interest rate cut in September is a moderate adjustment of monetary policy, and the recent inflation readings are just slightly above 2%. Households, businesses, and markets have seen progress in inflation and believe that this progress will continue. The Federal Reserve's monetary policy remains restrictive and is working to reduce inflation.

ChainCatcher news, Federal Reserve's Daly stated that the Fed can take aggressive actions when the outlook is clear, but the current outlook remains uncertain. However, he also emphasized that due to declining inflation and slowing economic growth, the Fed needs to lower the policy interest rate. (Jin Ten)

ChainCatcher news, San Francisco Fed President Daly stated that she believes it is appropriate for the Federal Reserve to begin cutting interest rates. In an interview on Monday, Daly said, "The labor market has achieved full balance. The time to adjust policy has come." This view echoes the remarks made by Fed Chairman Powell last week, who expressed confidence that inflation is on the path to returning to 2% during the Jackson Hole symposium, also stating that "the time to adjust policy has come."Daly emphasized that the Fed must bring inflation down to the 2% target, but she and her colleagues will also strive to prevent restrictive policies from harming the labor market.

ChainCatcher news, according to Caixin, Federal Reserve's Daly stated that the recent inflation situation is a relief, but progress will not be smooth; inflation is expected to gradually decline, and the labor market is also gradually slowing down; the economy seems to be on a path that is "more or less" suitable for one or two rate cuts this year.Before taking the next step, more information is needed; so many people are talking about the labor market, which is a significant signal from the Federal Reserve; the labor market has slowed down but remains solid.

ChainCatcher message, Fed's Daly stated that inflation data shows signs of cooling, and the policy effects are in line with expectations. If inflation remains stable or declines slowly, interest rates will need to stay elevated for a longer period. If inflation decreases or there are changes in the labor market, the Fed can adjust its policy in a timely manner.

ChainCatcher message, Federal Reserve's Daly stated that if inflation declines more slowly than expected, the policy rate must remain high for a longer period; if inflation gradually decreases and the labor market rebalances slowly, the Federal Reserve can gradually adjust policy; if inflation declines rapidly or the labor market weakens beyond expectations, lowering the policy rate will be necessary.

ChainCatcher news, Federal Reserve's Daly stated that it is still too early to declare that the inflation issue has been resolved. Sufficient measures must be taken to raise interest rates to a sufficiently restrictive level. Currently, the Federal Reserve expects to implement one to two rate hikes.Two rate hikes this year remain a reasonable expectation, but there may also be risks of insufficient rate hikes or excessive tightening. (source link)

ChainCatcher message, Federal Reserve's Daly stated that now is the time to slow down the rate hikes, and there is a lot of uncertainty regarding the peak of the federal funds rate; the discussion of stopping rate hikes is not on the table for now, and there may still be rate increases in the future. Our prediction is that inflation will be above target by the end of 2023. (source link)