U.S. inflationary pressures tended to be upward, U.S. bond yields hit multi-year highs, market expectations for interest rate hikes further increased, and the three major U.S. indexes collectively closed down. To sum up the week, the S&P 500 index fell 3.7%, the largest weekly decline in more than 2 months; the Dow Jones Industrial Average fell 3.0%, with four consecutive negative weeks; the Nasdaq fell below 11,400 points, a drop of 3.33%. According to the #FOMC# meeting minutes released on Wednesday, the Federal Reserve stated that although there are signs that inflation is declining, it is not enough to offset the need for further interest rate increases. The current inflation rate is still well above the Fed's 2% target. The labor market remains very tight, resulting in continued upward pressure on wages and prices. Until inflation is brought under control, continued interest rate increases are inevitable. In other words, if economic data continues to be strong, the Fed may need to sacrifice parts of the economy to beat inflation. A piece of data released before the market opened on Friday heightened concerns that the Federal Reserve will take more stringent restrictive monetary measures. The Fed's favorite inflation gauge, the#PCEprice index, was higher than expected, rising 5.4% year-on-year in January. The core PCE price index, which excludes food and energy, rose 4.7% year-on-year, a rebound from the previous month, showing The road to price stability is not as smooth as imagined. #crypto2023 #Web3