#美联储FOMC会议 Can next week's key data set the tone for 2026?

Several economic indicators will refresh market expectations. On Tuesday, as soon as the Federal Reserve meeting minutes are released, investment banks will see the clues—although interest rate cuts have already begun in December, the minutes are somewhat hawkish, clearly indicating a slowdown in the pace of rate cuts and implying that inflation risks have not been fully digested. The market is pondering: does this mean the rate cut plans for the first half of next year will be scaled back?

By Wednesday, initial jobless claims data will be released. How important is this indicator to the Federal Reserve? It’s significant enough to change policy direction. Last week’s data already sent a signal—jobless claims fell to 214,000, exceeding expectations, indicating a resilient labor market. If this week’s figures remain strong, the Fed may have more reason to "hold steady."

Friday’s manufacturing PMI final reading is also worth watching. The December S&P Global Manufacturing PMI stands at 51.8, in expansion territory. If the final confirms this level, it will support a narrative: the economy still has vitality, and there’s no need for urgent policy easing.

What does the crypto market think? This is the moment of testing. The hawkish minutes may temporarily suppress risk appetite, but the robustness of economic data, combined with potential policy adjustment expectations at the political level, are laying the groundwork for a story of long-term easing. $BTC and other cryptocurrencies, as independent value systems, will determine whether they can hold their ground amid this volatility, depending on how investors interpret these macro signals. For those interested in projects like $ZEC and $ZEN, market sentiment often shifts before the data itself does.