I didn't see much change when I woke up this morning, is that really the most awaited news of the month?

We listened to the press conference of the U.S. Federal Reserve Chairman, Jerome Powell, and he didn’t stop at just one surprise. The first surprise was that there was a vote in favor of keeping interest rates unchanged. The second surprise was that a rate cut in December is not guaranteed. This was indeed surprising because, according to the Dot Plot from the previous meeting, the market was fully pricing in rate cuts in both October and December. Now, Jerome Powell is mixing things up by telling the market and investors that there may not be a rate cut in December. As a result, we saw a significant shift in trading dynamics and markets following this statement.

Another point Powell emphasized again is that today’s rate cut was purely for risk management. This is the second time he has used this phrase. However, the market did not focus on this statement as much as it did on the possibility that there may not be a rate cut in December.
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