When the market agreed to a 25 basis point drop in September 2024, Powell dropped by 50 basis points. Last night, when many people expected a hawkish attitude, Master Bao said that I would further slow down the reduction of balance sheets. In the updated SEP, he downplayed the hawkish stance and extensively used the term "uncertainty" to convey the dual risk. Powell's statement of FOMC position is slightly disconnected from SEP's statement. Anna's final sentence was accurate, "One characteristic of Powell is his political acumen. He is likely weakening SEP's hardline stance to avoid angering the White House