The Pareto private credit market platform has launched a new synthetic dollar USP, backed by private credit assets, with a 1:1 minting ratio. After users deposit stablecoins, the funds are placed in the lending vault for borrowing, allowing participants to earn returns. It utilizes "native support" and stability reserves to maintain a peg to the US dollar.

According to the latest information, FTX will make a payment of 5 billion dollars to its creditors on May 30.
Payments to be made by the FTX Recovery Trust represent the second distribution period for creditors.

On May 15, Federal Reserve Chairman Powell delivered a speech at the Thomas Laubach Research Conference, stating that the Federal Reserve is revisiting its monetary policy framework in response to the "significant changes in the economic environment" following the pandemic. Although this review will not immediately alter the current interest rate policy, it sends a strong signal: high "real interest rates" may become the new normal.

As the real interest rate rises, is the old framework difficult to sustain?

Powell pointed out that the global economy has undergone profound changes since the Fed implemented the "average inflation targeting" system in 2020. The pandemic, supply chain restructuring, labor market changes and geopolitical risks, combined with the persistent stickiness of inflation, have kept real interest rates higher.

This means that the previously accommodative policy framework of The Federal Reserve (FED) is facing challenges. Under the current mechanism, the policy has a relatively high tolerance for high inflation, but the current high inflation may not be a short-term phenomenon, and even