Reasons for the decline last night:

Powell was not clear. He did not say that the interest rate would be lowered, nor did he say that the interest rate would not be lowered. The Fed still maintained the interest rate unchanged at 5.5%.

This is the seventh meeting that the interest rate was maintained. At the same time, it was said that the interest rate might be maintained for a long time, and a decision would be made after inflation was reduced. Inflation is still a bit high recently. This is mainly because of this sentence. He said that he would not look at inflation before, but now he is talking about inflation again. This made many people lose their trust after watching the speech.

And it was stated that if inflation is maintained before 2%, there will be no interest rate cut. According to the actual inflation situation, it is 1.51% (already lower than 2%), but the Fed announced it is 3%, so this is the problem. Someone is disturbing the view, or making false data.