BlockBeats News, December 11th, the FOMC once again cut interest rates by 25 basis points to 3.50%-3.75%, marking the third consecutive rate cut. However, three dissenting votes revealed a widening policy direction gap. The statement added the wording "to assess the appropriate path of the target range for the federal funds rate" and removed the characterization of the unemployment rate as "low," reflecting a growing rift among officials on the assessment of employment risks and inflation stickiness. Starting on December 12th, the Fed will begin purchasing $40 billion in Treasury securities within 30 days.Post-meeting, Powell emphasized that the Fed's current rate is close to the upper end of the neutral range, and no one is currently expecting a rate hike. He also pointed out that the upside risks to inflation are still present, largely driven by tariffs. If tariffs are reversed, inflation could fall back to the lower end of the 2% range. Regarding the labor market, he acknowledged that recent data has been overstated, and there are downside risks to employment. Market expectations for the cumulative rate cuts next year have risen to 55 basis points, with the probability of another rate cut in January still below 25%.Major institutions are also intensifying their divergent views on future policies: some believe that the improvement in inflation is sufficient to support another rate cut starting in March next year, while others expect a pause in January, entering a wait-and-see period in the first half of the year, and even suggesting that a rate cut may be postponed until after June. Several Wall Street institutions have pointed out that this "hawkish rate cut" highlights the difficulty of maintaining consistency within the FOMC under Powell's leadership. In terms of the market reaction, from the Fed's statement to the press conference, gold and silver experienced significant volatility before strengthening further, with silver reaching a historic high; U.S. bond yields fell, the dollar weakened, non-dollar currencies rebounded across the board, and U.S. stocks rose simultaneously. Trump criticized the insufficient rate cut after the meeting, adding to external noise and policy uncertainty.Bitunix Analyst: Against the backdrop of an unclear rate cut pace, intensified internal divisions, and the potential leadership changes in 2026, the market will rely more on data and liquidity operations to price the policy path. Short-term volatility is likely to rise, and directional signals will need to wait for further clarity on employment and inflation.