Highlights from the first speech of the head of the US Federal Reserve, Jerome Powell, after Trump's inauguration. Overall, it's not as bad and 'hawkish' as it could have been. By the way, Powell seems to have caught a cold - he was coughing.

- The economy is generally strong and has made significant progress towards achieving its goals.

- The labor market situation remains stable, the labor market has cooled down.

- Inflation has come significantly closer to the target but has increased slightly.

- I am carefully considering the risks on both sides of the mandate.

- We do not need to rush into lowering the interest rate.

- The target inflation level will not be subject to review (i.e., the 2% target will not be revised, - ed.).

- I will adjust policy to achieve goals.

- A too rapid reduction in restrictive policy could hinder progress, while too slow could unjustifiably weaken employment.

- Equipment investments seem to have slowed down.

- Activity in the housing sector seems to have stabilized.

- In 2024, US GDP seems likely to rise above 2%.

So far - quite good for the markets. But it wouldn't be right to say it's great. Let's move on to questions from journalists. It will be particularly interesting to see what will be said about Trump's plans.