Tonight, Federal Reserve Chairman Powell will have his first opportunity to respond directly to the "stress test" from Washington in a public setting.
Of course, this is just an "opportunity," as we all know Powell's "Tai Chi skills" are already superb, and it is not out of the question that he will once again deftly resolve risks with minimal effort, maintaining his position.
The current situation appears to Powell as a "surrounded on all sides" and "ambushed from ten directions", with pressure from the executive level and the market's high expectations for interest rate cuts forcing him to move forward in a tight space. But he is very aware that as long as he can withstand the critical window before July 30, all external pressures will significantly ease.
Once August arrives, the Trump team's attention will shift back to tariffs, trade, and campaign issues. By September, the window for interest rate cuts will basically close, and even if there are attempts to pressure the Federal Reserve again, Powell can handle it lightly, with the most being a slight increase in the rate cut in September.
Tonight, we will see how Powell engages in a "verbal battle with scholars". To be honest, if he can successfully withstand the current pressure from multiple sides and keep the economy from major issues, then in the future, whether in market reviews or historical records, these will become important chapters that add to his "score".
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