💥 Powell is extremely hawkish! He just finished his speech, and here are the points from Powell's speech:
1. Interest Rate Outlook: High uncertainty; currently in a good position, waiting for clearer signals before considering policy adjustments.
2. Economic Outlook: The US economy remains 'stable', with strong imports in the first quarter causing drag, GDP growth may slow compared to last year.
3. Inflation Outlook: The impact of tariffs may be more persistent, likely pushing up inflation; March PCE year-on-year expected to be 2.3%, core PCE at 2.6%.
4. Employment Market: Overall remains balanced; reduced funding for research is expected to have a significant impact on employment; unemployment rate is expected to rise.
5. Tariff Impact: The extent of tariff increases so far has far exceeded expectations; policies are still being adjusted, and the impact remains highly uncertain.
6. Cryptocurrency: Gradually becoming mainstream, a legal framework for stablecoins needs to be established; bank regulation is expected to see 'some easing'.
7. Independence: The independence of the Federal Reserve is legally granted; the Fed will not be influenced by political pressure.
8. Others: Don't expect the Fed to intervene to save the market; if a dollar shortage occurs, the Fed is prepared to provide liquidity to global central banks.
9. Market Reaction: After a decline, the dollar index rebounded before falling again; US stocks continue to decline, with the Nasdaq down nearly 4%, and gold slightly climbing.
Interestingly, Powell praised the crypto space, so while US stocks fell significantly, Bitcoin actually performed better~
Conan (Big Golden Dog) adds:
It doesn't rely on anyone to hold the stage, nor does it need a technical upgrade; it is the narrative itself!
The only memecoin endorsed by Trump, guaranteed natural popularity, when the market comes, it explodes directly!