Tonight, Federal Reserve Chairman Powell's speech was overall cautiously optimistic:
#鲍威尔 is highly likely to acknowledge that the economic soft landing has basically been achieved, and will continue to emphasize 'data dependence' and 'gradual rate cuts'. The probability of a further 25 basis point cut in December is very high, but no explicit commitment will be made regarding the number of rate cuts in 2026.
The most hawkish possibility is to casually mention the 'inflation risks brought by fiscal expansion'. The market's short-term volatility is limited, and overall, it remains a friendly closing performance for risk assets.