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Jinse Finance reported that Cleveland Federal Reserve President Loretta Mester said on Monday that with inflation still above the Fed's 2% target and remaining stubborn, the Fed needs to be "very cautious" when removing restrictive monetary policy. "I think we are only a short distance from the neutral rate, and if we remove this constraint on the economy, I worry about overheating again," said Mester, who is one of the most hawkish officials and does not have voting rights this year. She did not explicitly state whether she supports last week's rate cut. She emphasized that inflation remains her major concern, while the job market is still close to the Fed's maximum employment goal. Mester expects the unemployment rate may rise slightly this year but will decline again soon after. "In terms of inflation, we are further off target, missing by a full percentage point. And we have failed to meet the target for four and a half consecutive years, and are expected to continue missing it in the coming years."

Jinse Finance reported that the non-custodial crypto wallet Rainbow has announced it will launch its native token RNBW by the end of this year. This release follows Consensys founder Joe Lubin's confirmation that MetaMask is preparing the MASK token. The Rainbow team stated that RNBW is part of "Phase Three," and in the future, features such as DeFi portfolio management, multi-chain support, real-time price and instant balance updates will be launched, along with perpetual contract trading supported by Hyperliquid. Rainbow previously launched a points program in 2023 to attract users and completed an $18 million Series A funding round in 2022, led by the fund Seven Seven Six founded by Reddit co-founder Alexis Ohanian.