Overview of Major Overnight Developments on December 11

21:00 (UTC+8) - 7:00 Keywords: rate cut, Powell, dot plot, Meta 1. Powell: Inflation levels remain elevated; 2. Fed 2025 year-end conclusion: rate cut of 25BP as expected; 3. Zuckerberg instructs Meta to abandon open-source artificial intelligence; 4. Fed dot plot median: cumulative rate cut of 25 basis points in 2026; 5. US CFTC chairman confirms bitcoin can be used as collateral in the derivatives market; 6. Fed dot plot forecasts show a 25 basis point rate cut each in 2026 and 2027; 7. Powell: The Fed will make decisions meeting by meeting, there is no predetermined path for monetary policy; 8. Fidelity: Buyers purchased about 430,000 bitcoins near $85,500, which may be an important support level.