#美联储重启降息步伐 The wave of panic on Wall Street came and went quickly. After the "mini nonfarm" and PCE data were released, investors started betting on low-volatility, high-certainty risk assets again. Right now, all eyes are on next week—the highly controversial Fed rate decision is about to take center stage, and gold has already kicked off a period of intense volatility.

With employment data continuing to weaken, the market is almost unanimously convinced that a rate cut is a done deal. But the real focus is on these upcoming time windows:

At midnight on Tuesday, the New York Fed will release November’s 1-year inflation expectations data; near the close, the October JOLTs job openings report will be published. Then at 3 a.m. on Wednesday, the main event arrives—the FOMC rate decision and the Summary of Economic Projections will be announced simultaneously, followed by Powell’s press conference half an hour later, where every word will be scrutinized.

On Thursday evening, keep an eye on initial jobless claims and the September trade balance. Early Friday morning, the Fed will release household financial well-being data. On Friday night, Philadelphia Fed President Harker and Cleveland Fed President Mester will give speeches one after another, and Chicago Fed’s Goolsbee will also participate in an economic outlook seminar.

Interestingly, the Fed’s September dot plot indicated there may be two rate cuts next year, but the market clearly isn’t buying it—the current expectation is for 63 basis points of easing, essentially betting on three rate cuts. This gap in expectations is the truly intriguing part.

$BTC $ETH $SOL The market movement in the coming days will likely dance to the tune of these data releases.