Walsh expressed great optimism in his speech tonight at the Global Central Bank Policy Group Tonight is considered to have released positive news ahead of the release of non farm payroll data This catalyst came earlier and stronger than I expected Make my multiple orders fully profitable Let me briefly summarize the core of Walsh's main expression: 1、 The inflation risk has decreased, not due to a recessionary decline, but rather due to supply side expansion pulling down inflation, which is a benign, structural anti inflation. Loosening expectations of interest rate hikes 2、 Walsh personally hopes for a reduction in the size of the Federal Reserve's balance sheet, not what the market and government want, which is an important stance issue. He wanted to shrink his watch but was constrained by politics. At the same time, it indicates that the balance sheet has reached the boundary of fiscal policy, meaning that the size of the Federal Reserve's balance sheet has reached a critical point, and further expansion will not be monetary policy, but disguised fiscal financing. He hopes to have some control over it. Overall, the signal released by Walsh tonight is still very dovish, which has a cooling effect on the expectation of interest rate hikes this year But that's just what he said verbally The key is still to look at tomorrow's non farm payroll data and next week's CPI data If the data can support Walsh's speech tonight, the expectation of interest rate hikes will be lowered, which is very important for boosting the currently weak cryptocurrency and gold markets On the contrary, if the non farm payroll data is strong and there is no such thing as a decrease in CPI inflation next week, the market will also forget about Walsh's speech tonight The above personal opinions are for record only and do not constitute any investment advice