Powell's so-called dovish remarks cannot change the current trend of the US stock market. Trump needs to use a mild recession to stimulate interest rate cuts, which will not change. Therefore, the PCE data at the end of March, the tariffs on April 2, and the unemployment rate, non-farm payroll data, and CPI in early April will all face major tests. It’s a trade-off of time and recession to gain downward space and Powell's interest rate cuts; there is no other way. When gold stops rising, only then will safe-haven funds flow back into risk assets. The process of grinding down requires patience! We will slowly start to see improvements after getting through early April, and the Federal Reserve is very likely to start cutting rates in May and June.