#数字资产市场动态 Recently, several key figures at the Federal Reserve have been intensively voicing their opinions, sending a clear signal: don’t expect interest rates to be cut in the short term.

Former Treasury Secretary Paulson recently stated that the current interest rate level is already at the neutral boundary, effectively applying brakes to the entire economy. Schmidt was even more straightforward—he believes interest rates must remain high enough to thoroughly suppress the inflation demon.

Why such a tough stance? Just look at these key points:

**Inflation remains the primary threat.** Although it has eased, the pressure has not dissipated. Schmidt specifically warned that cutting rates too early could make inflation more stubborn and harder to control. The market is also pondering—can the Fed really push inflation below the 2% target? This doubt is spreading.

**The labor market needs to "cool down."** This phrase is a bit harsh, but Schmidt made it clear—preventing inflation from reigniting requires a moderate cooling of the employment market, which is a necessary cost. Further rate cuts may not necessarily encourage companies to expand hiring and could instead be a "seven-injury punch."

**The story behind the economic slowdown is more complex.** Schmidt attributes the slowdown to structural factors rather than simple cyclical fluctuations. Implicitly—while the Fed’s tools can still handle cyclical recessions, they are basically useless against structural issues.

Overall, the Fed’s logic is very hardcore: they’d rather tolerate a slowdown in growth and a mild decline in the employment market than risk losing control of inflation. Don’t expect rate cuts in the short term; it might even become more difficult.

All of this directly impacts liquidity expectations for $ETH, $BTC , and the entire crypto asset market. What do you think? Is the Fed’s "high-pressure" strategy aimed at long-term economic health, or is it tightening the strings too much, which could increase the risk of a recession?