The Federal Reserve is caught between two competing pressures. On one side, tariffs are pushing inflation higher, demanding aggressive action. On the other, the labor market is weakening with layoffs picking up pace. It's the classic policy trap: rate cuts ease job losses but risk reigniting price pressures, while staying hawkish protects price stability but could trigger deeper employment pain. The crypto market watches closely—Fed moves reshape risk appetite and capital flows. So what gives? Does the central bank prioritize price control or employment? The answer will likely drive volatility across risk assets in coming months.