Tonight, Powell will speak at the Jackson Hole central bank annual meeting, which will be his last appearance at the meeting as the chairman of the Federal Reserve. This speech will be seen as an important indicator of the Federal Reserve's policy during the Powell era. Many speculators are betting on whether he will cut interest rates or not. Based on the current information from various sources, it is highly likely that Powell will maintain a hawkish stance. In fact, it has little to do with the US economic indicators at this point; I believe it is more about political struggles, specifically the rivalry between the left and the right. Wall Street has traditionally been friendly to the left, as the left supports the free flow of international capital, representing the interests of large companies and financial elites, including arms dealers. The right, especially the MAGA faction, tends to represent the interests of the lower-middle class, rednecks, and small to medium-sized enterprises. Therefore, it is not difficult to understand why, before Biden's term ends and in the midst of economic downturn, Powell still aggressively pumped liquidity twice to create a facade of economic prosperity. However, since Trump took office, despite the US economic data recovering, Powell has tightened monetary policy and been reluctant to loosen it. So, basically, we don't need to guess the outcome tonight; it is likely to be hawkish. If you are a short-term trader, you can take a gamble. If you are not a long-term investor, you can actually ignore Powell because regardless of how he expresses himself, the next chairman of the Federal Reserve will definitely be replaced by someone from MAGA. Based on the historical shortcomings of American democratic politics—policy shortsightedness—printing money will be the only choice. The rampant green paper will ultimately highlight the preciousness of Bitcoin, and its value will continue to rise! #杰克逊霍尔会议