Powell's speech was as we expected, it was hawkish. He said a bit too much, there's not enough space here, so let's just look at the key points in one picture, I won't elaborate further, I'm too tired 🥱, going to sleep, good night 😴! #鲍威尔说了什么 #美联储降息周期

After this interest rate cut, the market and the Federal Reserve's dot plot show that almost all September expectations have been shattered. The median interest rate expectation and inflation have been raised, and the number of rate cuts in 2025 has been directly reduced by half, from 4 times to 2 times, reflecting the issue of sticky inflation. (This may pave the way for Trump's strong dollar policy and address the implementation of new policies.) I personally interpret this as bearish. I estimate that Powell's speech will also lean hawkish, and I will release the statistics after the speech ends!