December is likely to be #降息 , so following Powell's past practices—dovish resolutions, hawkish speeches—it will probably still be that set of combinations.

But the key question is: how much impact does the speech of #鲍威尔 have on the market now?

Historically, as soon as the name of the new chairman starts being traded by the market, even if they haven't taken office yet, the influence of the current chairman will automatically be discounted. So even if he continues to be hawkish, the market may not respond, and prices may not necessarily fall.