#比特币与黄金战争 $BTC $ETH $SOL

Moody's Chief Economist Mark Zandi recently made a statement that shook the market. Many are expecting the Federal Reserve to cut interest rates in 2026 to save the economy, but he signaled something completely different: it’s not a sign of economic improvement at all.

Looking at the data makes it clear. In November 2025, the US added only 64,000 jobs, and the Bureau of Labor Statistics described the "net change as extremely weak." Zandi was more blunt—job growth has long stalled, and there are even signs of decline. On the surface, layoffs aren’t that severe, but in reality, hiring has been fully frozen, which is the real job market slowdown.

What’s more awkward is inflation. The CPI is still stuck at 2.7%, exceeding the Federal Reserve’s 2% target. This creates a dilemma: cut rates and risk reigniting inflation; don’t cut and the economy might head straight downward. Zandi describes the current situation as "fragile growth," meaning that as soon as consumer spending shows any slight fluctuation, a wave of unemployment could hit at any moment.

So, rate cuts are neither a strong confidence booster nor a magic solution; they are more like a balancing act on the edge of a cliff. What does this mean for the crypto market? Investors need to see clearly: policy shifts don’t necessarily mean a recovery; the underlying economic fundamentals are the real decisive factor.