[Fed Meeting Week Begins, US October Inflation Expectations Rise to 4.7%] According to Jinse Finance, the University of Michigan's final survey released on October 23rd showed that US household inflation expectations for the next year rose to 4.7% (4.6% in September), with long-term expectations rising from 3.4% to 3.5%, marking the second consecutive month of increase and both reaching their highest levels since May. Consumer confidence remained largely unchanged at 48.0 (48.1 in September), with the current situation index falling to 46.7 and the expectations index rising to 48.8. The data was released ahead of the Federal Reserve's October 27-28 policy meeting—the Fed's September 16th meeting had just raised the federal funds target rate by 25 basis points to 3.75%-4.00%, reiterating its 2% inflation target. This survey measures household expectations, which differ from actual CPI and Fed forecasts; former governor Kugler has stated that long-term expectations are a useful signal of the credibility of monetary policy. For crypto assets, the transmission of financing conditions, cash returns, and investors' willingness to hold volatile assets is as follows: higher inflation expectations theoretically enhance the attractiveness of scarce assets, but tightening policies suppress speculative demand, and Wednesday's policy statement is a key point to watch.