#分散资产

Last night, Powell's message was very clear: the inflation situation is not good, and the Fed cannot take any action right now. Forget about lowering interest rates in May, and don't rush to discuss "when to lower interest rates"—just don't think about it. To summarize his recent style in one sentence: neither hawkish nor dovish, firmly standing in the middle position, doing nothing.

Powell is essentially a "master of expectation management." Seeing that recent inflation expectations have risen again due to tariff increases, his professional integrity does not allow him to play dumb. And let's not forget another important background: he is actually quite unhappy with Trump's style of casually intervening in the Fed and freely imposing tariffs. He is now guarding not just the policy line but also his position in history, after all.