Bearish

According to Jinshi Data, global macro strategist Duncan Balsbaugh said that Federal Reserve Chairman Powell is expected to explain at the press conference after the resolution that the "recalibration" of interest rate cuts is over. This means that the practice of automatically cutting interest rates at each meeting has ended.

Balsbaugh noted that the change highlights uncertainty and could lead to more neutral to accommodative modes, depending on the data. He also mentioned that on questions about Trump's trade, tariffs and tax inflation, Powell may reiterate that the FOMC will respond after actual executive action or legislation.