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Bank of America previews the Federal Reserve's October policy meeting press conference: No Q&A session likely, Waller to try to "straddle both sides"

1 hours ago

Against the backdrop of the upcoming Federal Reserve policy meeting, Bank of America (BofA) has issued a forecast, projecting that Chair Waller’s October press conference will follow the brief format of September, lasting around 30 minutes and likely without a Q&A session. BofA notes that if the Fed opts for a rate hike, Waller will face relatively less communication pressure, needing only to emphasize that inflation remains high and broad-based, financial conditions are not sufficiently tight, and the economy and labor market remain robust. His core task will be to avoid appearing overly hawkish to prevent the rate hike from triggering excessive tightening of financial conditions. If the Fed holds rates steady, Waller will need to strongly guard against market doubts about the Fed’s credibility. Facing the strong September inflation data, even when focusing on trends rather than individual data points, it is hard to shake off suspicion of complacency on inflation, as it was precisely similar trends that led to the September rate hike. If Waller is unwilling to guide the quarterly rate hike pace to lock in a December rate hike, the market may see a repeat of yield curve steepening distortion, a weaker U.S. dollar, and risk asset sell-offs. Finally, BofA maintains its judgment that the Fed will raise rates in December 2026 and March 2027 respectively; it also stresses that if inflation stickiness exceeds expectations in the first half of 2027, further rate hikes cannot be ruled out.

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According to Scam Sniffer’s monitoring, a user’s Ethereum and Base network assets were stolen due to an alleged private key leak, resulting in total losses of approximately $1.58 million. The attacker transferred 682 ETH within less than two hours, and around 281 of those ETH were subsequently sent to Tornado Cash.

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An address suspected to be linked to Justin Sun added 20.32 million USD worth of PEPE tokens, with its total holdings now generating an unrealized profit of 2.085 million USD.

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Two long-dormant crypto whales inactive for three years deposited 2,571 BTC into Coinbase Prime, valued at $206.5 million.

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OpenAI announced it has disproven the Exponential Time Hypothesis, a key theory in computer science that has been widely used for over two decades.

OpenAI recently announced that its AI model has "cracked" ETH, a news that quickly sparked heated discussions in both the tech and crypto communities. It is important to note that the ETH here is not the widely known Ethereum cryptocurrency, but rather a key conjecture in computer science that has existed for over two decades: the Exponential Time Hypothesis (ETH). The core question of the Exponential Time Hypothesis is: how "extremely difficult" are problems that appear computationally hard? Take the SAT problem (Boolean satisfiability problem), which many have heard of, as an example: it asks, given a set of logical conditions, can you find an assignment that satisfies all conditions at the same time? As the problem scale grows, the best known approach basically has to test all possible answers one by one, with time complexity increasing exponentially with the scale—this is what we commonly call "exponential time". The Exponential Time Hypothesis further asserts that such problems are inherently incapable of being significantly accelerated, and no truly efficient "sub-exponential time" algorithm exists for them. Since its proposal in 1999, this hypothesis has been a cornerstone of theoretical computer science. Hundreds of papers have used it as a basis to prove that "certain problems are hard" and "certain algorithms are near-optimal". If the Exponential Time Hypothesis is disproven, it would mean that many problems we thought were "almost impossible to solve faster" might theoretically have better solutions. OpenAI claimed that its model has found a deterministic algorithm that can accurately count the number of solutions to the k-SAT problem in sub-exponential time, and has conducted formal verification via Lean. If this result ultimately passes expert review, it will directly undermine the Exponential Time Hypothesis.

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