The hawkish attitude behind the rate cut is directly related to this decline.

Although the rate cut was nominally implemented, the Fed released a clear hawkish signal through statements and rhetoric.

Unwilling to continue easing.

Powell emphasized that this move was the right decision under special circumstances, implying that he was cautious about further rate cuts in the future.

Control market expectations.

While responding to market demand, clearly express the independence and vigilance of the Fed to avoid the formation of long-term easing expectations.

Market confidence needs time to be restored, and Trump's inauguration next month will bring new opportunities.