Fed Chair Powell is set to deliver an important speech at the Jackson Hole Central Bank annual meeting, which will take place tonight at 10 PM. The focus of this highly anticipated address will be on the analysis of economic prospects and the assessment of the policy framework, drawing significant attention from financial markets.

Currently, the market generally expects the Fed to announce a 25 basis point rate cut decision at next month's meeting. This expectation is closely related to the current economic situation and global monetary policy trends.

However, the decision-making process of the Fed is not smooth sailing. The U.S. President continues to exert pressure on the Fed for interest rate cuts, and this interference from the executive branch has raised concerns about the independence of the Central Bank. More notably, there are reports that the President is considering potential successors to Powell, even though Powell's term does not end until May of next year.

This speech will not only affect the direction of domestic economic policy in the United States, but it may also have a significant impact on global financial markets. Investors and policymakers will closely follow Powell's remarks for clues about the future direction of monetary policy.

Against this backdrop, the cryptocurrency market has also experienced a certain degree of pullback. As a bridge between the traditional financial market and the emerging digital asset market, the trend of Ethereum (ETH) is particularly worth following. In the future, as the Fed's policies evolve, the cryptocurrency market may exhibit more complex changes.