📢 Gate Square #Creator Campaign Phase 1# is now live – support the launch of the PUMP token sale!
The viral Solana-based project Pump.Fun ($PUMP) is now live on Gate for public sale!
Join the Gate Square Creator Campaign, unleash your content power, and earn rewards!
📅 Campaign Period: July 11, 18:00 – July 15, 22:00 (UTC+8)
🎁 Total Prize Pool: $500 token rewards
✅ Event 1: Create & Post – Win Content Rewards
📅 Timeframe: July 12, 22:00 – July 15, 22:00 (UTC+8)
📌 How to Join:
Post original content about the PUMP project on Gate Square:
Minimum 100 words
Include hashtags: #Creator Campaign
Fed Chair Sticks to Inflation Target, Hints at Continued Rate Hikes Through 2023
Fed Chair Reaffirms Inflation Control Goals, Emphasizes Possible Continued Rate Hikes
At the global central bank annual meeting, the Fed chairman delivered a brief yet powerful speech, reaffirming the primary goal of reducing the inflation rate to 2%. He stated that the Fed will continue to take strong measures to balance supply and demand, thereby reducing inflation.
A central bank official pointed out that during the current tightening cycle of monetary policy, the Fed is committed to raising interest rates to a level that can restrict economic growth and maintaining that level for a period of time. He warned that prematurely easing policies could have serious consequences.
Although the specific magnitude of the interest rate hike in September was not explicitly stated, he hinted at the possibility of another significant increase. This statement opens the door for the possibility of a 75 basis points rate hike in September.
Despite the improvement in inflation data in July, the Fed chairman believes that it is not enough to change the policy path for interest rate hikes. He emphasized that the Fed will not be swayed by one or two months of data, and the current inflation situation remains severe.
It is worth noting that the Fed chairman stated that even with a slowdown in economic growth, a restrictive monetary policy needs to be maintained for some time to reduce inflation. He disagrees with the market's expectations for a possible interest rate cut next year, and instead anticipates that by the end of 2023, the benchmark interest rate will be close to 4%.
The Fed Chairman emphasized the importance of managing inflation expectations, believing that it is key to avoiding a repeat of the significant interest rate hikes that led to an economic recession in the 1980s. He stated that the Fed is committed to completing the task of controlling inflation and will see it through to the end.
This hawkish statement triggered a sharp reaction in the financial markets. The US stock market fell significantly, US Treasury yields rose, the dollar index strengthened, and gold prices dropped. Expectations in the futures market for a 75 basis point rate hike in September also increased significantly.
Overall, the speech of the Fed chairman conveyed a strong signal to control inflation while also hinting at the possibility of ongoing tightening policies in the future. This will undoubtedly have a profound impact on global financial markets.