#美联储货币政策走向# From the information, it can be seen that there is significant divergence in the Fed's policy direction for September. Powell stated that no decision has been made regarding the September meeting, but the "Fed's mouthpiece" revealed that there may be two governors supporting a rate cut. Such internal divergence has been rare in more than 30 years.

Analyzing on-chain data, no large-scale capital flows into safe-haven assets have been observed. However, it is worth noting that some large investment institutions are increasing their allocation to interest rate-sensitive assets. This may indicate that the market is preparing for a potential policy shift.

It is recommended to closely monitor the subsequent statements of Fed officials and changes in economic data. At the same time, pay special attention to the on-chain minting and burning of stablecoins, as this often reflects the market's expectations for US dollar liquidity. If a sudden significant change in the supply of stablecoins is observed, it may indicate a major shift in market sentiment.