#PowellRemarks Jerome Powell, Chairman 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 by Powell:*

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

- *Interest Rate*: The benchmark interest rate was cut 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.

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

*Impact of Powell's Speech on Markets:*

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

- *Gold*: The price of gold fell below $1,800 per ounce. This could be a result of expectations of rising interest rates or an improving U.S. economy.

- *Oil*: The price of oil rose after Powell's speech. This could be due to expectations of increased demand for oil as a result of economic improvement