Summary of the key points of Fed Powell's speech on December 1: Generally speaking, it was slightly "hawkish" and ambiguous.

Powell also poured cold water on interest rate cuts: It is too early to judge when to ease, and be prepared to tighten further if necessary. Market expectations for the Federal Reserve to cut interest rates next year have recently been high, but senior Fed officials have repeatedly poured cold water on expectations of a quick shift to easing, and Powell's latest remarks continue this argument.