Listening to Powell's live broadcast, it was much more dovish than expected.

During the Q&A, Powell directly refused to answer sensitive questions unrelated to the Federal Reserve's duties, indicating a retreat before stepping down.
But he also emphasized two points:
1. Interest rates are at the upper end of the neutral zone
2. Tariffs are very likely a one-time price increase, and the core PCE excluding the impact of tariffs is slightly above 2%, which is very healthy
All of this leaves room for rate cuts in the future.
The current market has already priced in no rate cuts before May( Powell is determined to stand his ground against Trump), and is pricing in the possibility that Trump will replace Powell with a Federal Reserve chair who will significantly cut rates( His speech yesterday)
Therefore, I expect the market to have a rush before May.
Bullish on the Spring Festival market.#内容挖矿焕新公测开启