Federal Reserve Semiannual Monetary Policy Report: Overview of Economic Situation and Monetary Policy
Overall, the U.S. economy has performed strongly, and we have made significant progress toward our goals over the past two years.

Overall, the U.S. economy has performed strongly, and we have made significant progress toward our goals over the past two years.
The Fed has raised interest rates to historic levels, but the economy is still moving upward. Perhaps this is because we are focusing on the wrong indicators.
Lian Ping suggested in September that the tone of monetary policy should be adjusted from "prudent" to "moderately loose" to create a suitable policy environment for implementing more vigorous reserve requirement ratio cuts and interest rate cuts.
Singapore has chosen to keep its monetary policy settings unchanged, bucking the global trend of policy easing as the city-state’s economy showed robust growth in the third quarter of 2024. The Monetary Authority of Singapore (MAS), which manages monetary policy through the exchange rate rather than interest rates, decided to maintain the slope, width, and center of the Singapore dollar’s currency band. This approach helps to curb imported inflationary pressures by keeping the local currency on a gradual appreciating path.
These effects are most pronounced when new financial assets are close substitutes for existing financial assets.
Spot Bitcoin ETF was officially launched in the United States recently, attracting great attention from the market. The Monetary Authority of Singapore does not allow such financial products to be listed in Singapore and for retail investors because cryptocurrencies such as Bitcoin are not listed as eligible assets for ETFs.
MAS provided the exchange with initial in-principal approval in October 2023, and Upbit has been actively engaged in Singapore since 2018.
The latest report by The Bitcoin Policy Institute goes for the lowest hanging fruit.
“What has pushed Bitcoin into a “crypto winter” over the last six months can by and large be explained as a direct result of an increasingly hawkish rhetoric from the US Federal Reserve,” CoinShares wrote.
The working paper tracks the impact of CBDC operations through several scenarios and concludes that the Fed will control the impact of CBDC.