Powell's speech at Stanford University's memorial event pays tribute to the predecessors' commitment to public spirit while avoiding monetary policy topics

On the evening of December 1, local time, Federal Reserve Chairman Jerome Powell appeared at a memorial event at Stanford University and delivered a speech. This speech focused on the life and contributions of the late former Secretary of State George Shultz, without addressing the inflation situation, employment market, or interest rate policy trends that are of high concern to the market, in line with the Federal Reserve's silence period before the December policy meeting.

In his speech, Powell highly praised George Shultz's spirit of public service and personal character, emphasizing that his pragmatic policy ideas and steadfast pursuit of values set a benchmark for future generations. He specifically quoted Shultz's famous saying: "Trust is the hard currency in this field, and good things can only happen where there is mutual trust," and pointed out that Shultz's integrity is the solid foundation of that trust.