I didn't understand this. Has the era of low interest rates ended? Then will interest rates be cut or not?

Federal Reserve Chairman Powell "admitted a mistake": the era of long-term low interest rates has ended.

Federal Reserve Chairman Powell stated on Thursday that the Federal Reserve is adjusting its overall policy framework to respond to significant changes in inflation and interest rate outlooks following the COVID-19 pandemic in 2020. Powell said, "The economic environment has changed significantly since 2020, and our review will reflect our assessment of these changes."

"The Federal Reserve's mouthpiece," Wall Street Journal reporter Nick Timiraos pointed out that the Federal Reserve adopted the current framework five years ago and began reviewing it this year; this review is unlikely to affect how the Federal Reserve currently sets interest rates. Powell hinted that the higher inflation-adjusted rates (i.e., "real rates") that emerged after the COVID-19 pandemic in 2020 may render some elements of the Federal Reserve's current framework no longer applicable. $ETH