🔥📉 【Federal Reserve December Meeting Minutes Interpretation: Power Struggles Beneath the Surface of Rate Cuts】

People generally focus only on the outcome of "rate cuts," but the real interest lies behind the scenes. There is already clear policy divergence within the Federal Reserve, which is uncommon in history.

The scene in the minutes is quite ironic—

On the surface: Agreeing to cut rates ✅
Behind the scenes: Many officials openly say this is "forced compromise," not their true opinion
Some even hint that: The next move is likely to pause, and interest rates may stay unchanged

But the opposing camp is not willing to be outdone. Their logic is very clear: as long as inflation continues to decline, the overall direction of rate cuts remains justified, and there is even room for further downward movement.

So the key is not whether rates are cut or not—

It’s that this level of disagreement has appeared in two consecutive meetings. Such situations are rare in the history of the Federal Reserve.

**My core judgment is actually just one sentence**:

This is no longer a "technical discussion," but a typical policy turning point being repeatedly tugged by various parties.

To put it simply:
👉 The economic situation is forcing them to cut rates
👉 But inflation data makes them hesitant to fully loosen policy

What’s the result? The policy direction remains unchanged, but the pace is steady and unpredictable, sometimes fast, sometimes slow.

**For the crypto market, what does this mean?**

This situation has both advantages and disadvantages.

Advantages:
Policy disagreements = liquidity expectations fluctuate repeatedly
Every time there’s a "rate cut but hesitation," it further undermines the certainty of fiat currency systems
During such times, assets like Bitcoin and Ethereum, which are not tied to any country, are more easily used by institutions as hedging tools
Volatile periods are often windows for large funds to quietly rebalance and reposition

Disadvantages:
The expectation of "cut and then stop" can directly suppress short-term risk appetite
Macroeconomic uncertainty = increased market volatility, making leveraged retail traders most vulnerable to liquidation
Market segmentation may intensify, with structural opportunities more likely than a broad rally

**One sentence summary**:

The most genuine state of the Federal Reserve right now is not "becoming dovish," but—

**Being caught between a rock and a hard place**.

What the market is really betting on is not a specific rate cut, but—

How long can this "dilemma" persist? Will it evolve into a trigger for the next market rally?