Once Powell mentioned the two basic words, the markets moved strongly
The first is that the Fed is open to changing the interest rate once this year
And the second is that the current interest rate is close to neutral
Although Powell did not mention that the interest rate is above its neutral level
But the market sees it this way
Thus, although a cut is expected
This time Powell mentioned it explicitly and publicly
Which means we will be watching for a rate cut in the next Fed meeting or perhaps the one after that
