A brief follow-up of Powell's speech: Powell's speech this time was dovish. While emphasizing the rebound in inflation data in January and February, he also emphasized that this will not affect the overall situation. The general meaning is that although the data has rebounded, the overall target It is proceeding as planned, and the overall anti-inflation effect has not been affected by the rebound in inflation data in January and February!

This meeting also met one of my previous expectations, which is to discuss QT. This is a very important event. If QT does not stop, QE will not come. If QT has no intention of slowing down, then QE will be even further away. Powell said that it would be appropriate to slow down the balance sheet reduction and reissue in the near future, which will be a big encouragement to the U.S. stock market!

Combined with the unexpected rise in the unemployment rate last time, today’s Powell’s speech is not much different from expectations!

However, the biggest upset today was that the Bank of Japan gave a signal that it expected to raise interest rates next time. This directly caused the dollar to plummet against the yen, suppressing the U.S. dollar index. The Bank of Japan was preparing to cut interest rates while Powell was signaling doves. If this signal is given at this stage, it cannot be ruled out that it will cause funds to withdraw from the US dollar index and turn to the Japanese yen!

In addition to paying attention to the Fed's policy in the follow-up macro aspect, it seems that a narrative of the Bank of Japan's policy will also be added.

It’s not that interesting tonight. Before the meeting, I notified the technical side and gave a bullish signal in the group, which also captured a band! So today's meeting tracking is completely routine work. Good night and sleep! $BTC #日本加息 #美联储利率