#美联储降息 The recent remarks by Federal Reserve Board member Mullan are quite interesting—he mentioned that inflation is already close to the policy target, and then suggested that the current tightening stance might actually be excessive. But his logic is a bit awkward: opposing a 25 basis point cut, yet supporting a 50 basis point cut, the gap between these two is quite large. It seems that there are indeed disagreements within the Federal Reserve regarding the pace.

Interestingly, Bitcoin dropped tonight, and some people linked this to Mullan's comments. But upon closer reflection, the relationship might not be so direct. Mullan's attitude actually reflects the dilemma faced by the Federal Reserve between inflation control and economic growth—cutting rates to support growth, while fearing a rebound in inflation. This uncertainty itself can easily trigger market volatility. The price movement of $BTC is often more influenced by market expectations of overall liquidity rather than a single official's statement. The key still depends on whether the Federal Reserve's actual actions can be fulfilled.