#美联储维持利率不变 To summarize the speech of Mr. Bao in the early morning

1: Inflation is closer to the target, but still a little high.

Implication: Inflation has shown signs of rebounding compared with before

2: The labor market is not the source of inflationary pressure.

Implication: You can guess the real reason by yourself, anyway, as long as I don’t say it, I have a reason

3: We don’t need to rush to adjust the policy interest rate.

Implication: Let’s see the boss’s opinion first, the gods are fighting, I will wait

4: The discussion on the policy framework has begun at this meeting.

Implication: We respect Trump’s ideas, but we need time to understand Trump’s ideas. It is expected that we will understand them thoroughly around the end of summer

5: Substantial progress needs to be made in inflation, or the job market is weak before considering rate cuts.

Implication: We only look at the data, don’t try to use power to pressure us

6: The Fed will not take action until we see more progress than it has so far.

Implication: We can’t make a decision before we get the nod from our boss