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On the evening of July 22, U.S. time, Fed Chairman Jerome Powell will deliver a speech at a highly anticipated banking regulation meeting. The backdrop for this speech is quite special as recent political figures have raised questions about the transparency of funding for the Fed's headquarters renovation project, directly targeting Powell himself and trying to exert pressure through topics such as 'fiscal discipline' and 'credibility'.
Although it is widely believed that Powell is unlikely to directly respond to these criticisms, he is likely to take this opportunity to reaffirm the Fed's independence in regulation and monetary policy. This position could have significant implications for the sentiment in both the current cryptocurrency market and traditional financial markets. If Powell demonstrates a firm stance, emphasizing that the Fed is not subject to external interference, it could stabilize market confidence; conversely, if his statements indicate compromise or a softening of position, the market may interpret it as an increase in policy uncertainty.
In terms of banking regulation, Powell may focus on the following key points:
1. Carefully adjust bank capital requirements in response to market concerns that the new requirements may be too strict;
2. Enhance regulatory transparency and improve communication mechanisms with the public;
3. While maintaining the stability of the financial system, avoid liquidity risks that may arise from excessive regulation.
Although this speech may not trigger significant market fluctuations, if Powell's remarks exceed expectations, particularly regarding sensitive topics such as political intervention or changes in regulatory policies, it could have a short-term impact on the stock market, the dollar index, the bond market, and the prices of crypto assets. Investors should remain vigilant and closely monitor the content of the speech and its potential market reactions.