● The Federal Reserve kept its benchmark interest rate unchanged for the sixth consecutive time
According to BlockBeats, on May 2, the Federal Reserve kept its benchmark interest rate unchanged at 5.25%-5.50% for the sixth consecutive time, in line with market expectations.
● Analyst: Powell's attitude towards interest rate hike is unclear
According to Jinshi, analyst Ira Jersey said that he thought that Federal Reserve Chairman Powell would show a clearer attitude on issues involving interest rate hikes, but in fact he did not. He believes that it seems okay for interest rates to remain unchanged, but the threshold for further interest rate hikes is very high.
● The timing of the Fed's rate cut remains a mystery, with multiple institutions forecasting inconsistent results
According to Wu, it is now a mystery when the Fed will cut interest rates. JPMorgan Chase and Goldman Sachs expect the first rate cut to be in July, while Wells Fargo is betting on September. Bank of America does not expect the first rate cut until December. Meanwhile, some Fed policymakers have even raised the possibility of raising rates instead of cutting them. According to the futures market, Wall Street's best bet for the first rate cut is in September, and it will not be large.
● The U.S. Treasury Department is expected to increase the size of Treasury auctions, which is expected to inject a large amount of liquidity into the market
According to Odaily Planet Daily, the U.S. Treasury Department expects to increase the size of Treasury auctions in the coming days, and the auction size is expected to remain stable in the May-July quarter, setting the quarterly refinancing size at $125 billion, in line with expectations. U.S. Treasury Secretary Janet Yellen is expected to inject a lot of liquidity into the market when she announces the Treasury issuance plan for the second quarter of 2024 next week.
● DeFi’s overall TVL decreased by $10 billion in April, but Bitcoin, Base, and Blast saw an increase in capital inflows
According to Odaily Planet Daily, data shows that the overall TVL of DeFi decreased by $10 billion in April, a decrease of 7%, to $138.6 billion by the end of April. Despite the overall downward trend, the inflow of funds from Bitcoin, Base and Blast has increased.
● Binance Labs announces investment in Movement Labs
According to the Binance blog, Binance Labs announced an investment in Movement Labs. The specific amount has not been disclosed. Movement Labs will support Sui Move, Aptos Move and the embedded EVM interpreter MEVM, enabling Sui, Aptos and EVM users to use L2, bringing smart contract security and parallelization to Ethereum.