QCP: Fed Independence Draws Attention, Gold and Bitcoin Become Safe-Haven Assets

ChainCatcher news, QCP released a briefing stating that the market focus has shifted from rate cuts themselves to the issue of Federal Reserve independence. Analysis shows that the market is pricing in a higher term premium on the long end, while lowering the threshold for a downward cycle of the US dollar. Against this backdrop, even with the implementation of easing policies, the yield curve tends to steepen, the US dollar weakens, and gold and bitcoin are supported as investors seek to hedge against inflation and governance risks.

After the Jackson Hole meeting, rate cuts are still seen as possible, despite inflation being difficult to quickly fall back to the 2% target. The market expects there may be two rate cuts this year, but new tariffs could push up inflation expectations, which is worth paying attention to.