The Fed's May meeting was suspended, which was in line with market expectations. The monetary policy statement noted that risks of rising unemployment and higher inflation have increased, suggesting that the policy environment is at risk of "stagflation," but the Fed is in no hurry to act as current economic data remains solid. The Fed will not cut interest rates in the short term, especially not preventively, and the path of future rate cuts will depend on tariff negotiations: if negotiations do not make significant progress and tariffs remain high, the Fed may be forced to start a "recession-style" rate cut, or by 100 basis points by the end of the year: but if negotiations reach an effective result and tariffs are reduced, The Fed may delay the rate cut until December, and the rate cut will be more modest. #BTC #ETH #GT #SOL