Jerome Powell, the Chair of the U.S. Federal Reserve, delivered an important speech yesterday, providing clarifications on monetary policy and inflation. Here are more details about the speech and its impacts:

*Key Statements from Powell:*

- *Inflation*: Powell confirmed that the Fed is working to reduce inflation to its target of 2%. He noted that inflation is still gradually declining as a result of recovering from the major economic shocks that occurred in 2021 and 2022.

- *Interest Rate*: The benchmark interest rate was reduced by 25 basis points to a range of 4.25%-4.5%. This decision reflects a monetary policy aimed at achieving economic stability while continuing to face inflation challenges.

- *U.S. Economy*: Powell indicated that the U.S. economy is performing very well, and there are no reasons to believe that a recession is more likely than usual.

*Impact of Powell's Speech on Markets:*

- *Stocks*: Technology stocks rose after Powell's speech, while the Dow Jones index declined. This reflects investors' expectations that monetary policy will remain accommodative to support economic growth.