Two key points in Powell's speech:
First, the Fed is not in a hurry to cut interest rates quickly. If the current economic development continues, the Fed may cut interest rates twice in the remaining time, a total of 50 basis points.
That is, the interest rate will be cut by 25 in November and December respectively. This data is not good for investors who are betting on a 50 basis point cut in November.
Second, the current GDI (gross national income) is not as low as imagined, eliminating the risk of economic downturn.
This shows that the resilience of the US economy is still good, but it also hinders the Fed's plan to cut interest rates quickly. It seems that 50, 25, 25 is likely to be the next rhythm. Of course, the focus is still on the silent Nick's tweet. This also sets the tone for the Fed's interest rate cut.
If there is another 50, it really means that the Fed has seen some data that we have not seen, but it is very bad.
