Recently, a very interesting market anomaly has been highlighted. The President of the United States, Trump, mentioned that the GDP growth rate reached 4.2% when commenting on the third quarter GDP data, far exceeding the expected 2.5%. In theory, this is Favourable Information, but the current stock market reaction is the opposite—good news comes, yet it instead goes Sideways or falls.

Why? To put it simply, Wall Street always thinks in one logic: good economy → inflation risk → the Federal Reserve needs to raise interest rates → the market gets suppressed. So when good news comes, traders start to worry instead. This falls into a vicious cycle: the better the economic data, the more cowardly the market reacts.

Trump bluntly stated that if this continues, the prosperity of the nation’s market will not return. His view is that a strong economy does not automatically trigger inflation; true inflation comes from poor policy choices. What kind of Federal Reserve does he hope to see? One that lowers interest rates when necessary and does not use rate hikes to suppress upward market trends. In other words, do not let the market become a tool of policy.

He also mentioned that the inflation problem will naturally ease, and interest rates can be adjusted if necessary, but there should be no interest rate hikes simply to curb the upward trend. If overly conservative individuals are at the helm, constantly pondering how to suppress growth, the prosperity of the nation cannot be discussed. Finally, his stance is also very clear: anyone who disagrees with his economic policy ideas should not expect to sit in the position of Chairman of the Federal Reserve.

The core issue reflected here is how large the tension is between market expectations and central bank policies. For the crypto space, this uncertainty in macro policies will similarly translate into the pricing logic of crypto assets.