ChainCatcher news, according to Jinshi reports, "The decision to cut interest rates is an acknowledgment of the growing confidence that the inflation rate is likely to reach the Federal Reserve's 2% target—this confidence is partly based on signs that the labor market and product market have been tending toward balance in recent months," said Kansas City Fed President George in remarks prepared for a speech to the Omaha Chamber of Commerce.He stated that while the progress toward returning to the 2% target means that now is an appropriate time to cut rates, "how much further rates will decline or what they will ultimately settle at remains to be seen." On the current issue of federal government spending, George indicated that because the Federal Reserve will fulfill its responsibility to keep inflation at the established 2% target, large fiscal deficits will not trigger inflation.However, this may mean that "interest rates will remain elevated for an extended period," George said, which is why the Federal Reserve must maintain its independence when formulating monetary policy.

ChainCatcher message, Fed's Schmid stated that his personal view is that cryptocurrency is a risk asset, a playground, rather than a currency.

ChainCatcher message, Federal Reserve's Schmidt stated that he wants to see more economic data before supporting any decision to start cutting interest rates. Schmidt acknowledged that inflation is moving in the right direction, while believing that the Federal Reserve should remain patient. "For me, it makes sense to really focus on some data in the coming weeks. Before we take action, at least before I take action or suggest taking action, I think we need to see more information." "I still believe that if we are not cautious in our decision-making, we might see a slight rebound in demand." Regarding the non-farm revision data released yesterday, he said, "While this is a big number, it doesn't really change my thinking when considering monetary policy." (Jin Ten)

ChainCatcher news, according to Jinshi reports, 2024 FOMC voting member and Richmond Fed President Barkin stated that the Federal Reserve has time to assess whether the U.S. economy is normalizing or weakening, the latter of which would require officials to take more forceful action.Kansas Fed President George, on the other hand, indicated that despite inflation exceeding targets and a healthy labor market, he is not yet ready to support interest rate cuts.It is reported that George is one of the more hawkish Fed officials, stating that two years ago inflation surged to a decades-high, and it is necessary to cautiously evaluate progress, "We should look at the worst-case scenarios in the data, not the best."