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Don't remind me again today

This week, the Fed made a big move by holding a special discussion meeting on payment innovation focusing on stablecoins, tokenization, and AI applications—this is the first time the official agenda has formally included crypto assets. However, investors are not focused on this now, as Friday's September CPI data is the real killer. The Fed's September interest rate meeting is almost certain to cut by 25 basis points; the key question is whether the CPI can leave room for imagination for the Fed's subsequent actions.



By the way, Trump's recent remarks have eased trade war anxieties, causing Wall Street to turn positive for the week, but bonds and gold have plunged, indicating that the market is re-pricing risks. With the third-quarter earnings season and CPI as a dual test, the coming week will show who can sniff out the next opportunity from the data.
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