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💥 Breaking news! The Federal Reserve has taken action, causing the dollar to plummet.

This meeting threw out two bombs: first, a 25 basis point rate cut (the market had anticipated this), and second, the sudden announcement of the launch of the Reserve Management Purchases (RMPs) — in simple terms, it’s start buying government bonds.

The dollar index immediately dropped by 0.4%, marking the worst single-day decline in three months. The last time such a sharp drop was in mid-September.

Powell's signals in this speech are even more interesting. He focused entirely on labor market risks, repeatedly emphasizing concern over employment data, but he barely mentioned inflation. The implication is clear — in the short term, the pace of rate cuts may pause, and it won’t be as aggressive as before.

📊 The market immediately responded:

The US stock tech sector led the rally, Bitcoin broke through the $3,350 level, and gold surged to a one-month high. All three assets strengthened simultaneously, and the underlying logic is quite simple — improved liquidity expectations.

Buying government bonds is essentially a form of liquidity injection; the market is not short of funds. But interestingly, other major central banks may not follow this easing pace, leading to divergence between the Fed and other global central banks. Plus, with the Fed’s apparent increased tolerance for inflation, the upcoming trends will be more complex.

⚠️ Keep an eye on these key time points:

The non-farm payroll data in early January will be the first verification window. If the data is truly weak, the Fed might be forced to adjust its strategy. Additionally, Trump might fire some shots again, feeling the rate cuts aren’t enough. Also, will European and Japanese central banks passively follow suit?

Do you think this wave of the dollar is just a technical correction, or are we really entering a downtrend?