I have finished listening to Powell's speech.

CN
Phyrex
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11 hours ago

After listening to Powell's speech, it was slightly more pessimistic than I expected. The main points are as follows:

  1. There will be no rush to cut interest rates; inflation caused by tariffs will take some time to be seen. (In line with expectations)

  2. The risk of a downturn in the U.S. economy is rising, and external statistical agencies predict an increased probability of a U.S. recession. (Slightly pessimistic)

  3. The growth of the U.S. economy has slowed down, but it is not believed that a recession will occur. (In line with expectations)

  4. The labor market has little impact on inflation in the U.S. (In line with expectations)

  5. The U.S. faces risks of high inflation and high unemployment, and the path to returning inflation to 2% will be more difficult. (Pessimistic expectation)

  6. Tariffs are likely to affect the increase in U.S. spending. (In line with expectations)

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