[Federal Reserve Meeting Minutes: Divergence Between Slowing Job Growth and Moderate Economic Growth] The Federal Reserve's October meeting minutes reveal that participants discussed the difficulty in assessment due to the absence of the September employment report, relying instead on private sector data, limited government data, and business survey information. Current indicators show that layoffs and hiring remain at low levels, with the labor market gradually cooling between September and October without a sharp deterioration. Participants believe that the slowdown in job growth is primarily due to reduced labor supply and moderate economic growth, as well as weakened demand caused by uncertainty. Some noted that investments related to artificial intelligence might exacerbate weak labor demand. Looking ahead, labor market conditions are expected to cool gradually, with businesses inclined to maintain their current workforce levels. Some participants suggested that the divergence between weak employment and moderate GDP growth might persist due to productivity improvements and continued constraints on labor supply.
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More >Bitcoin extends losses below $89,000 as Fed minutes outline two-sided risks, no preset path for rate cuts
Bitcoin sits roughly 5% below its 2025 open, and analysts say market positioning points to further downside.Minutes show one of the widest policy splits in years, with Fed officials divided between further easing and holding rates steady amid stubborn inflation.
Coinbase测试预测市场和代币化股票交易功能
[Coinbase Tests Prediction Market and Tokenized Stock Trading Features] Independent researcher Jane Manchun Wong discovered through reverse engineering analysis of the public code of the Coinbase mobile application that it is testing interfaces for prediction markets and tokenized stock trading. Screenshots show tabs labeled 'Stocks,' 'Prediction,' and related disclosures. A few months ago, Coinbase publicly stated that these features are part of the 'Everything Can Be Traded' initiative and are expected to be launched.
Abu Dhabi Investment Council: Bitcoin will play an important role alongside gold
The Abu Dhabi Investment Commission stated that Bitcoin will play an increasingly important role in the future along with gold. （Bitcoin Archive）
美联储会议纪要：短期融资市场收紧 准备金接近充裕水平
[Federal Reserve Meeting Minutes: Short-Term Funding Market Tightens, Reserves Approaching Ample Levels] The Federal Reserve's October meeting minutes indicate that conditions in the U.S. short-term funding market tightened significantly during the interim period but remained orderly. The spread between the effective federal funds rate and the interest rate on reserve balances narrowed to the tightest level since the Fed began balance sheet reduction in 2022. The secured overnight financing rate (SOFR) exceeded the minimum bid rate of the standing repo facility multiple times, leading to repeated use of the facility. The average usage of the overnight reverse repurchase agreement (ON RRP) facility dropped to its lowest level since 2021, while reserve balances gradually approached ample levels.
美联储会议纪要上调GDP增长预期 失业率将下降
**[Federal Reserve Meeting Minutes Raise GDP Growth Forecast, Unemployment Rate Expected to Decline]** The Federal Reserve's October meeting minutes indicate a slight increase in the real GDP growth forecast through 2028, primarily due to improved potential output growth and supportive financial conditions. After 2025, the drag from tariffs is expected to weaken, with GDP growth projected to remain above potential levels through 2028, and financial conditions serving as a tailwind for spending. The unemployment rate is expected to gradually decline after this year and stabilize at a level slightly below the estimated natural rate of unemployment. Inflation forecasts are similar to those from the September meeting, with tariff increases anticipated to exert pressure on inflation in 2025 and 2026, followed by a return to a disinflationary trend. Staff members noted that the forecasts face significant uncertainty due to factors such as labor market cooling, elevated inflation, policy changes, and the impact of government shutdowns on data collection.