CFTC Chairman Michael S. Selig stated that the US Congress is about to pass federal cryptocurrency legislation. （CoinDesk）

The minutes of the Federal Reserve's June policy meeting show that officials have divergent views on the future direction of interest rates, with the possibility of both interest rate hikes and cuts coexisting. Some decision-makers believe that easing inflation creates conditions for interest rate cuts, while other officials are concerned about continued price pressures and believe that interest rate hikes will be necessary in the future. The Federal Reserve decided at its meeting on June 16-17 to keep the benchmark interest rate unchanged at 3.5% to 3.75%. Decision makers have different judgments on the year-end interest rate level, and the Federal Reserve has stated that future policies will be adjusted based on economic data such as inflation and employment. AI interpretation: The split in the internal policy stance of the Federal Reserve directly breaks the market's unilateral expectations for the path of monetary policy. This divergent state indicates a lack of confidence among decision-makers in the decline of inflation, leading to a stalemate in interest rate policy. The market will have to reprice the risk of long-term high interest rates, and the volatility of the financial environment will significantly increase in the short term. This uncertainty forces investors to abandon aggressive bets on the pace of interest rate cuts and instead adopt defensive asset allocation strategies.

According to CCTV News, Iranian Foreign Minister Alaghi stated that President Trump's remarks against the Iranian people will not affect Iran's status and dignity, and Iran will respond with firm and fearless actions. Iranian Deputy Foreign Minister Ali Babadi stated that President Trump's remarks are a manifestation of the failure of his policy towards Iran based on force, sanctions, and threats, and that the United States' attempt to pressure Iran into submission has not been achieved.

The minutes of the Federal Reserve's June meeting showed that officials were increasingly concerned about high inflation. A few attendees believed there was reason to raise interest rates immediately, but most attendees believed that inflation would fall back to the 2% target on its own. Ultimately, all attendees supported keeping interest rates unchanged, and Federal Reserve Chairman Kevin Walsh issued a more concise policy statement. AI interpretation: The Federal Reserve's decision to maintain interest rates unchanged reflects a cautious balance between inflation stickiness and economic growth among decision-makers. The disagreement among officials regarding the inflation outlook highlights the highly sensitive observation period of monetary policy. The simplification of policy statements aims to reduce market overinterpretation of future paths and maintain policy flexibility. This position clarifies that interest rates will remain high in the short term to suppress inflation, and the market needs to recalibrate its expectations for the timing of interest rate cuts.

After the release of the minutes of the Federal Reserve meeting, there was little change in spot gold prices.