Friday 22:00 Powell's Annual Meeting Speech

This is the market focus this week, historically often a window for signaling a shift in monetary policy. There are three main speculations in the market:

1. Hawkish: Reaffirming anti-inflation stance, not ruling out further tightening of policy;

2. Dovish: Acknowledging economic downside risks, implying peak interest rates and paving the way for rate cuts;

3. Neutral: Emphasizing data dependence, not providing clear guidance (higher probability). The market continues to decline.