#美联储降息展望 Fed Chairman Powell recently delivered a speech, pointing out that some current economic data may have deviations or temporary distortions, which is likely a core consideration for the Fed's decision to pause further interest rate cuts.

In fact, this indicates that the Fed has shifted to a cautious "wait-and-see attitude"—not rushing to implement further rate cuts, while retaining the flexibility to readjust monetary policy based on subsequent economic indicators.

After the news broke, the market reacted noticeably: the U.S. dollar index strengthened in the short term, U.S. Treasury yields showed a slight upward trend, and risk assets exhibited a certain degree of cautious sentiment. In addition, BTC and gold prices are under short-term pressure, and overall market volatility has increased.

An important signal can be interpreted from Powell's statement: the interest rate cut process is likely to slow down. This means the market may soon enter a "volatile consolidation period," where the switching between bulls and bears will be more frequent in the short term. In this environment, the importance of grasping the trading rhythm may outweigh the judgment of market direction.