On December 10th (Wednesday), the Federal Reserve (Fed) will hold its last annual FOMC meeting.

Core Event: The market widely expects the Federal Reserve to announce a rate cut of 25 basis points, but the real focus will be on Powell's press conference after the meeting (3:30 AM Beijing time on Thursday).

Key Highlights and Significance:

This meeting is seen as a critical moment that will determine the macroeconomic direction for 2026.

Liquidity Expectations: The market is closely watching whether the Federal Reserve will initiate a monthly $45 billion Treasury bond purchase program (referred to as 'reserve management operations'), which is viewed as a disguised way to inject new liquidity into the market.

Politicization of Policy: This meeting faces rare internal disagreements (the highest number of dissenting votes since 2019), marking a shift in monetary policy formulation that is being reshaped by 'political' divisions.

Regulatory Resonance: This macro monetary policy juncture coincides with SEC Chairman Paul Atkins explicitly stating that ICOs will be transferred to CFTC regulation. This means that the 'expectations of monetary easing' and 'structural rollbacks in regulation' are colliding within the same time window, directly impacting the pricing logic of silver and cryptocurrency assets.