Year-end showdown intensifies: Federal Reserve disagreements deepen, global stock and bond markets diverge, cryptocurrencies hit new highs
The Federal Reserve's December meeting minutes released on Wednesday (December 31) reveal deep internal disagreements among decision-makers. U.S. Federal Reserve officials have differing opinions on monetary policy direction; some advocate for further lowering the federal funds rate target range if inflation continues to decline, while others believe that after the recent rate cut, it is appropriate to keep rates unchanged for now to observe economic developments. White House advisor Milan favors an aggressive 50 basis point rate cut, whereas Federal Reserve Presidents of Kansas City and Chicago oppose this stance.
This internal dispute has led to increased market expectations, with the MOVE index surging by 8.05%, reflecting significant activity in the volatility market. The U.S. dollar index has risen back to around 98.2, the 10-year U.S. Treasury yield has edged higher, while the 2-year Treasury yield has declined for four consecutive trading days. Gold initially rose then fell, ultimately increasing by 0.14% to $4,338.3 per ounce, with silver performing even more strongly, rebounding