The Federal Reserve emphasizes independence: the pause in rate cuts in January has become a consensus, with the earliest restart in June.

【BlockBeats】Multiple Federal Reserve officials reiterated a core stance this week — that the central bank must remain independent when formulating monetary policy, free from political and judicial interference. The underlying message behind this statement is that the upcoming FOMC meeting is very likely to keep rates unchanged.

The reasons given by the officials are quite consistent: the US economy remains resilient, inflation levels are still relatively high, and now is not the time to cut rates. Minneapolis Fed President Kashkari was the most explicit, stating that maintaining rates is the right choice given the economy’s steady performance and high inflation. He also emphasized that even when facing external investigation pressures, the Fed’s decision-making standards are always based on data and analysis, and will not change due to personnel shifts.

The statements from other key figures are also very aligned. Chicago Fed President Goolsbee, Atlanta Fed President Bostic, and New York Fed President Williams all reaffirmed that interest rates should not be subject to political interference, which is crucial for maintaining long-term price stability. Bostic was even more candid — before achieving the 2% inflation target, the Fed still has a long way to go, and policies must continue to exert restraint on the economy.

Market reactions are already quite clear: the earliest possible rate cuts are likely to occur after June. This means that high interest rates will persist in the coming months, continuing to impact risk asset valuations and market liquidity. For the crypto market, such policy certainty may be easier to price in than frequent changes.