According to Jinshi data, Federal Reserve Chairman Powell stated that the current economic situation is different from that in 2019, and it is not possible to preemptively cut interest rates. The inflation rate in 2019 was below the Federal Reserve's 2% target, while now the inflation rate is above the target.
Powell pointed out that inflation is expected to face upward pressure due to tariff impacts. He emphasized that the Federal Reserve cannot determine the correct policy response before seeing more data.