Summary of Powell's press conference at the Fed meeting today:
Key point 1: Don't look at the data nodes, look at the data, and downplay the importance of the data for the next two months
Key point 2: Give a signal of conditional interest rate cuts, and emphasize that even if the inflation data is average, it is necessary to combine the labor market data to determine whether to cut interest rates in September. If inflation is good, then cut directly
Key point 3: "I don't want to see the labor market get too bad on the current basis." It can continue to cool down in a gentle manner, but not too fast
Key point 4: This morning we had a heated discussion on whether to cut interest rates at this meeting, and the final result was that the time was not right
The dovish speech not only released the signal of conditional interest rate cuts, but also downplayed the importance of the data for the next two months. At the same time, it said that the possibility of interest rate cuts was discussed at this meeting, which shows their bias against interest rate cuts.
In August, the market will usher in a wave of explosions after September
