The Wednesday early morning rate cut announcement was quite interesting, to be honest.

The 25 basis points were implemented as expected, marking the third cut this year. However, the internal voting was quite intense, and the post-meeting statement sent a clear signal—don't expect future cuts to be as straightforward as before. Powell's remarks at the press conference basically put "caution" front and center.

Market reaction? Gold initially surged, then was hammered down again, creating a classic roller coaster. Things were even more lively on the Bitcoin side—immediately jumping above 94,000 after the news, but couldn't withstand selling pressure and fell back, finally crawling back to stabilize.

Speaking of Powell's farewell performance, the volatility wasn't as severe as expected. The market's reaction to the so-called "new version of quantitative easing" was surprisingly muted. Normally, Bitcoin, being highly sensitive to liquidity, shouldn't have been so lackluster.

But there's a detail worth pondering: Trump previously called for inflation to be directly reduced to 2% next year. This aggressive expectation has started to surface within the Federal Reserve. How this evolves may be more interesting to watch than the rate cut itself.