ETH has skyrocketed (7%), today's FOMC meeting is crucial, why? Firstly, interest rate determination: The market generally expects the Federal Reserve to maintain the federal funds rate at 4.25% -4.50% As Bower said, "We don't need to act hastily, we can wait for clearer signals Maintaining interest rates basically tells the market that inflation is not fully under control, and cutting interest rates now would prematurely stimulate the economy. This is crucial for the financial planning of families and businesses, as they will continue to suppress investment in industries such as real estate and automobiles, but on the one hand, it also sends a signal of economic stability Of course, what is important is the market's response: The market's response to the meeting depends more on the tone and forward guidance of the Federal Reserve, rather than the interest rate decision itself. The stock or cryptocurrency market may rise due to dovish signals (such as implying interest rate cuts) or fall due to hawkish signals (such as emphasizing inflation risks). Bond yields and the trend of the US dollar will also be affected, which in turn will affect the prices of commodities such as gold. Currently, both the cryptocurrency market and traditional market are in a highly sensitive stage, which means that every word from Powell could trigger volatility. For example, a strengthening of the US dollar may increase debt pressure on emerging markets, while a weakening may boost US exports. To put it more seriously, the outcome of the speech at this meeting may even trigger a reconfiguration of global investors. Economic forecasts and dot plots are equally important: The meeting will release an updated Summary of Economic Forecasts (SEP) and a dot matrix chart, showcasing FOMC members' expectations for future interest rates, economic growth, unemployment rates, and inflation. The purpose is basically to reduce a certain degree of uncertainty and help the market price future interest rate paths more accurately. If today's forecast shows higher inflation expectations, it may indicate longer periods of high interest rates and market decline, and vice versa. In addition, the market expects 2-3 25 basis point interest rate cuts in the second half of 2025, depending on data such as slowing economic growth and controlled inflation. However, Powell's statement at this morning's press conference will provide clues to these expectations, and we can look forward to it.