According to industry sources, Blackstone Group Chief Investment Officer Rick Rieder recently expressed the view that the Federal Reserve needs to cut interest rates to 3%. This statement has attracted widespread market attention.

The direction of Federal Reserve policy has always been a key factor influencing global asset allocation. From a macro perspective, interest rate policies directly affect the attractiveness of risk assets. When interest rates are at a higher level, traditional fixed income products become more competitive, easily diverting funds from risk assets such as cryptocurrencies. Conversely, when interest rates decline, investors are often prompted to seek higher-yield opportunities, which is usually positive for digital assets like Bitcoin and Ethereum.

As one of the world's largest asset management firms, Blackstone's CIO's statement represents some expectations of institutional investors. From a market perspective, this suggests that in the second half of this year, expectations of rate cuts may further intensify. For investors seeking returns, it is worth continuously monitoring the evolution of macro policies.