Powell's attitude this time is quite unexpected; he started off by being very dovish.😅

There are two main points:
1️⃣ Inflation? Temporary, mainly pushed up by tariffs, and the Federal Reserve is now more concerned about employment. In translation: as long as employment data weakens, a rate cut is highly likely.

2️⃣ 2% inflation target? Hardly mentioned, only a symbolic mention at the end. In other words, even if rate cuts lead to a rise in inflation, the Federal Reserve does not intend to stubbornly maintain high interest rates.

No wonder the stock market and gold are soaring, while the dollar is plummeting. But I always feel this statement is too lenient; if the dollar really falls too quickly, the Federal Reserve will likely have to turn around and act hawkish to stabilize the situation.

In summary, it seems they are really ready to inject liquidity now. The only thing left is to keep an eye on the employment data.