The speech of Fed Chairman Jerome Powell became a central event for global financial markets. What Powell said: We will not lower rates — not yet. Rate cuts are approaching, but not now. The Fed is waiting for more data. No panic, but also no breakthrough. Inflation is slowly decreasing — around 2.5%, but it is not yet a 'victory'. The labor market is strong, the economy is holding up, so there is no reason to rush into cuts. In the Fed's forecasts, rate cuts are possible in 2025, but only 'if all goes well'. To which Trump noted that this is a mistake and called for cutting the rate immediately by 2% because the economy needs to be 'saved'.