Fed Meeting Preview: Fed to Cut Rates with Limited Information

On October 30th, based on market data, the three major U.S. stock indexes turned downward. The Dow fell by 0.25%, the S&P 500 decreased by 0.35%, and the Nasdaq declined by 0.1%.

On October 30th, Federal Reserve Chair Powell stated that the uncertainty regarding the rate move in December needs to be taken into account. The logic of risk management applies equally to the current rate cut. (Xinhua)

Update: On October 30th. Based on the data from the CME FedWatch Tool, traders have decreased their wagers on a Fed rate cut in December. The current probability of a rate cut is 71%, which is lower than the previous 90%.

On October 30th, based on HTX market data, SOL fell below $190, and the 24-hour decline expanded to 4.2%.

On October 30th, based on HTX market information, Powell's hawkish remarks led to Bitcoin dropping below $110,000 and Ethereum falling below $3,900. Federal Reserve Chairman Powell indicated that a rate cut in December is by no means a certainty, and there were significant divisions at the meeting regarding how to proceed with the policy.

On October 30th, Omair Sharif, the analyst at Inflation Insights, holds the view that the U.S. government shutdown and the absence of relevant official economic data may impede the Federal Reserve's plan to cut interest rates for the third consecutive time in December. If the official data reflecting economic activities in October and November is not available at the meeting scheduled for December 10th, officials may be reluctant to cut rates again. They may find it difficult to reach a consensus on another rate cut, especially considering the internal differences within the FOMC as indicated in the September dot plot. (FX678)