New Fire Research Institute pointed out that Kevin Warsh, in his Jackson Hole speech, advocated reducing forward guidance during normal times, opposed mechanically applying the Taylor Rule or overreacting to single data points, while maintaining the 2% inflation target, using short-term interest rates as the primary policy tool, and limiting balance sheet policies to crisis periods. If this framework continues to advance, market interest rate expectations may shift from the previous gradual smoothing through 'official speeches' to lower volatility during normal times and concentrated sharp fluctuations when key data is released. For the crypto market, New Fire Research Institute believes that in the absence of significant overall liquidity expansion, Crypto may be more sensitive to short-term interest rates than long-term rates. Key events to watch in the next 30 days include Nonfarm Payrolls on September 4, CPI on September 11, and the FOMC meeting on September 15–16. If the data remains strong, rate hike trades may continue; if the data weakens, it could drive the market to trade on a 'hawkish peak' narrative. https://(wublock123.com)/news/fed-guidance-reduction-makes-crypto-more-sensitive-to-cpi-nfp-67584