Recently, I took a close look at the latest US economic report, and honestly, it’s quite interesting. Over the past half year, there have been many voices debating whether the Federal Reserve Chairman’s policies are correct. Some have criticized the interest rate policies as inappropriate and accused them of inadequate inflation control. But when the Q3 data was released, the facts provided the answer.

As an analyst who monitors the markets daily and relies on macroeconomic data, I believe it’s necessary to clarify the core judgment: on the two key issues of inflation and interest rates, the Fed’s policy direction is correct.

Data speaks most directly. The US Q3 GDP annualized growth rate reached 4.3%, far exceeding the market expectation of 3.3%, and even higher than the 3.8% of the previous quarter, marking the fastest growth in nearly two years. What does this mean? All previous claims of an "economic recession" have been proven wrong. Not only did the economy not collapse, but it also demonstrated considerable resilience—consumer activity remained active, exports gained momentum, and personal consumption expenditures even accelerated month-over-month. This is a true reflection of the economy’s underlying strength.

Looking at inflation. Although the inflation rate in Q3 increased compared to spring (from 2.1% to 2.8%), this actually underscores the necessity and effectiveness of policy adjustments. Simply looking at the numerical increase can lead to misunderstandings; in reality, this range is within a controllable scope, reflecting the release of economic vitality rather than signs of out-of-control inflation.

The implication for the crypto market is that when macroeconomic fundamentals stabilize and policy logic becomes clear, the market tends to price more rationally. These traditional financial signals are worth the entire ecosystem paying close attention to.