聯準會維持利率穩定，加密貨幣市場在通膨鬥爭中波動

聯準會將關鍵利率維持在當前水平，顯示聯準會長期致力於對抗通膨。儘管加密貨幣市場經歷了小幅低迷，但自公告發布以來，比特幣和以太坊都顯示出了復甦的跡象。然而，頑固的通膨和不斷變化的利率預期繼續影響市場情緒，交易員調整了他們的預測和風險偏好。

Federal Reserve Maintains Steady Interest Rate Amid Persistent Inflation, Impacting Crypto Market

聯準會在持續通膨的情況下維持穩定利率，影響加密貨幣市場

Washington, D.C. - The Federal Reserve (Fed) has maintained its key interest rate at a target range of 5.25% to 5.5%, in a widely anticipated decision that reflects its continued focus on combating stubbornly high inflation.

華盛頓特區 - 聯準會 (Fed) 將主要利率維持在 5.25% 至 5.5% 的目標區間，這是一項廣泛預期的決定，反映出聯準會繼續致力於對抗頑固的高通膨。

Federal Reserve Chairman Jerome Powell, in his remarks following the meeting, acknowledged the challenges in reducing inflation to the Fed's target of 2%, but expressed optimism that rate increases would ultimately achieve the desired effect. However, he declined to specify a timeline for future rate cuts.

聯準會主席鮑威爾在會後演講中承認，將通膨率降至2%的目標面臨挑戰，但對升息最終將達到預期效果表示樂觀。不過，他拒絕透露未來降息的時間表。

"I'd say it's unlikely," Powell said when asked about the possibility of an imminent rate hike, but "it's likely to take longer for us to gain confidence that we are on a sustainable path to 2% inflation."

當被問及即將升息的可能性時，鮑威爾表示：「我想說這不太可能，但我們可能需要更長的時間才能獲得信心，相信我們正在走上可持續的2% 通膨之路。 」

The Fed's decision has sent mixed signals to the crypto market, with Bitcoin and Ethereum experiencing both declines and minor gains in the hours following the announcement. Bitcoin dropped 4.6% over the past day, reaching $57,600, while Ethereum fell 1.3% to $2,945. However, both cryptocurrencies have shown signs of recovery in the past hour, with Bitcoin rising 1% and Ethereum increasing 2%.

聯準會的決定向加密市場發出了複雜的信號，比特幣和以太坊在宣布後的幾個小時內經歷了下跌和小幅上漲。比特幣在過去一天下跌 4.6%，至 57,600 美元，而以太幣則下跌 1.3%，至 2,945 美元。然而，兩種加密貨幣在過去一個小時內都顯示出復甦的跡象，比特幣上漲了 1%，以太幣上漲了 2%。

The Fed's decision comes amidst concerns about the persistence of inflation, reaching multi-decade highs in 2022. Although inflation rates have declined slightly, they remain above the Fed's target. The lack of substantial change in inflation from the previous month's release in March caused significant volatility in crypto markets.

聯準會做出這項決定之際，人們對通膨持續存在的擔憂，通膨將在 2022 年達到數十年來的高點。與上個月發布的 3 月通膨數據相比，通膨並未發生實質變化，導致加密貨幣市場大幅波動。

"The committee does not expect it will be appropriate to reduce the target range until it has gained greater confidence that inflation is moving sustainably toward 2%," Powell stated in a prepared statement.

鮑威爾在一份準備好的聲明中表示：“委員會預計，在對通膨持續向 2% 邁進更有信心之前，不宜降低目標範圍。”

James Butterfill, Head of Research at CoinShares, believes that shifting rate expectations are primarily driving recent price movements in Bitcoin, while Ethereum faces additional pressure due to an ongoing court battle over its regulatory status in the United States.

CoinShares 研究主管 James Butterfill 認為，利率預期的變化主要推動了比特幣近期的價格走勢，而以太坊則因美國監管地位的持續法庭鬥爭而面臨額外壓力。

Higher interest rates, a tool employed to curb inflation by making borrowing more expensive, typically have a negative impact on risk assets such as stocks and cryptocurrencies. As cash reserves become more attractive, investors tend to shift away from riskier assets.

高利率是一種透過提高借貸成本來抑制通貨膨脹的工具，通常會對股票和加密貨幣等風險資產產生負面影響。隨著現金儲備變得更具吸引力，投資者往往會放棄風險較高的資產。

Although the Fed had initially projected three quarter-percentage point cuts for 2024, traders have grown less optimistic. According to the CME's FedWatch Tool, financial market participants anticipate at most one rate cut by the end of the year.

儘管聯準會最初預計 2024 年降息 3 個百分點，但交易員卻變得不那麼樂觀。根據芝商所的聯準會觀察工具，金融市場參與者預計年底前最多會降息一次。

As rate cut expectations have been delayed, Bitcoin experienced its worst month since November 2022, with a 14% decline in April. Powell acknowledged that inflation has not receded as quickly as policymakers had hoped, suggesting that rate cuts may be further down the road.

由於降息預期被推遲，比特幣經歷了自 2022 年 11 月以來最糟糕的一個月，4 月跌幅達 14%。鮑威爾承認，通膨並未像政策制定者希望的那樣迅速消退，這表明未來可能會進一步降息。

Despite the challenges, Powell expressed confidence in the Fed's ability to manage the risks presented by inflation. "The recent data have clearly not given us greater confidence, and instead indicate that it's likely to take longer than expected to achieve that confidence," he said. "That said, we think policy is well positioned to handle the risks that we face."

儘管面臨挑戰，鮑威爾仍對聯準會管理通膨風險的能力表示信心。他表示：“最近的數據顯然沒有給我們帶來更大的信心，反而表明實現這種信心可能需要比預期更長的時間。” “話雖如此，我們認為政策足以應對我們面臨的風險。”