Key points from Jerome Powell's speech:

- Inflation remains too high, though it has declined from its peak. More progress is needed to bring inflation down to the Fed's 2% target.

- The Fed has raised rates significantly and is prepared to do more if needed. Policy will remain restrictive until inflation is on a sustainable downward path.

- Tighter monetary policy is slowing demand and allowing supply to catch up. This rebalancing should continue to ease inflationary pressures.

- Progress is most visible in goods inflation, as demand cooled and supply bottlenecks improved. Housing inflation is also declining as higher rates slowed demand.

- Services inflation has been stickier but should also ease as policy restricts demand relative to supply.

- The labor market is rebalancing but remains tight. Further moderation in wage growth will be needed.

- Economic growth is expected to be below trend for a time to restore balance between supply and demand.

- There is uncertainty around the exact level of restriction needed and the lags before policy affects inflation. Careful risk management is warranted.

-The Fed will remain focussed on core PCE inflation.

- The Fed is data dependent and will adjust policy as needed based on incoming information. The path ahead will depend on assessing progress toward the 2% goal.

- The Fed is committed to achieving price stability, which is essential for sustaining a strong labor market over time.

*The Fed will persist in tightening policy until inflation is clearly on a downward path back to 2%.

#reads RFQ

https://medium.com/bebop-dex/wtf-is-rfq-on-chain-19560e00058b

Intent-based Architecture

"Informally, an intent is signed a set of declarative constraints which allow a user to outsource transaction creation to a third party without relinquishing full control to the transacting party."

Essentially if the intent is to pay $C for X, then the user is allowing third parties to choose whichever computational path on their behalf to achieve this intent ($C for X).

Aggregators are a good example of intent-based architecture. By sending the intent of $C for X, aggregators source across multiple DEXs to find the most optimal route to achieve this intent.

RFQ utilises this architecture too through MMs.

#reads RFQ, intent-based architecture

https://www.paradigm.xyz/2023/06/intents#what-are-intents

https://twitter.com/NorthRockLP/status/1695172393747239118?

Justin Bons argues for sharding > L2 scaling

https://twitter.com/Justin_Bons/status/1695114892120924450?s=20

#reads RWA

https://medium.com/fourpillars/the-structure-and-overview-of-rwa-based-defi-protocols-63bf631cb866

i mean after all users are suppose to hold their influencer's keys for alpha right

also w the high buy/sell tax and curve it was never sustainable to be constantly trading

then w OF creators coming in to juice free $ defo was a top signal

https://twitter.com/beaniemaxi/status/1695543917444288807?s=20