On September 18th, the Federal Reserve announced on the 18th that it will cut the target range of the federal funds rate by 50 basis points, exceeding market expectations. This is the first time the Federal Reserve has cut interest rates in four years, and it also marks the shift from a monetary policy tightening cycle to an easing cycle. The dot plot shows that the Federal Reserve expects to cut interest rates by 50 basis points this year. According to the observation of 4E Exchange, after the announcement of the interest rate decision, the US stock market got out of the roller coaster, the three major indexes rose and fell, and finally all ended slightly lower, with the Dow and the S & P 500 both hitting record highs intraday. Non-US currencies generally rose, crude oil fell slightly, gold turned down after reaching a new high, and the crypto market generally rose. Bitcoin rose 3.26% and Ethereum rose 3.1% before press time. In the context of the start of the interest rate cut cycle and the continued decline in risk-free interest rates, institutional investors may increase their exposure to the crypto market in search of higher returns. However, it should be noted that while interest rate cuts usually have a positive impact on risky assets, significant interest rate cuts have also raised questions about the health of the U.S. economy in some markets, which has an important impact on prices. 4E reminds you to pay attention to the risk of recent market fluctuations and allocate assets rationally.