Powell's speech leans hawkish, suppressing rate cut expectations

The Federal Reserve maintains the interest rate at 4.25%-4.50%, marking the fifth consecutive time of holding steady, in line with market expectations.

Powell stated that the September policy adjustment is undecided, needing to observe the impact of tariffs on inflation and the economy, emphasizing the stability of long-term inflation expectations.

As a result, the probability of a rate cut in September dropped from 65% to slightly below 50%, and U.S. Treasury yields rose.

Analysts believe Powell is not influenced by political pressure, and the market's reaction is moderate, with the interest rate path generally clear.

Powell's hawkish remarks led to a brief decline in risk assets, but the market quickly rebounded, with U.S. stocks turning from decline to increase, and Bitcoin experiencing a drop followed by a rebound. $BTC $ETH $SOL #以太坊十周年 #美联储利率决议 #稳定币热潮