Hammock's hawkish statement hides a killing intent! The voting rights in 2026 have become a key variable in the crypto market
The aftermath of the recently concluded Federal Reserve meeting is not over, and Hammock's latest statement has directly doused the market with cold water—this hawkish bigwig, who will hold voting rights in 2026, clearly stated a “tendency towards a tighter stance,” even though current policy is close to neutral, there will still be pressure on the high inflation around 3%. For the crypto market, this is by no means a simple “hawkish mouthpiece,” but an important warning for the future shift in monetary policy.
Some may feel that “there's no need to panic without voting rights,” but reviewing Hammock's consistent stance makes it clear—she opposed interest rate cuts in September as early as August, directly stated she does not support easing in October, and now avoids supporting this week's interest rate cut; her hawkish logic has never wavered. More critically, she pointed out the core contradiction: the Federal Reserve's tools to respond to structural changes in the economy are insufficient, which means that the space for maintaining stability through interest rate cuts is already limited, and once inflation rebounds, tightening will likely become a high-probability event.
For the cryptocurrency circle, this directly impacts the core narrative of “liquidity easing.” Many analysts previously bet on a rate cut in December to initiate a liquidity cycle, but Hammock's statement confirms the division within the Federal Reserve—two officials have already opposed this week's rate cut, and coupled with the continued pressure from hardliners like Hammock, the extent of easing next year will inevitably be greatly reduced. It is important to know that cryptocurrencies, as high Beta assets, are far more sensitive to Federal Reserve policies than U.S. stocks, and tightening liquidity expectations often trigger valuation corrections first.
The inflation and employment data over the next two weeks will become key indicators. If the data still shows resilience, Hammock's “tightening theory” may gain more support, and mainstream coins like Bitcoin and Ethereum may face correction pressure; if the data cools down, the market may temporarily digest hawkish concerns. However, in the long run, after Hammock gains voting rights in 2026, her continued anti-inflation stance is likely to become an “invisible suppression” in the crypto market.
It is advisable to maintain a neutral position currently, focusing on core data and deviations from the Federal Reserve's dot plot, and not to blindly chase high easing expectations. The crypto market has always been about “buying expectations and selling facts,” and Hammock's statement is precisely cooling the overheated expectations.
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