🔥 Tonight at 10:00, the Fed Chair Powell makes his first appearance from the Jackson Hole podium! The full 10,000-word speech is out—every line reshapes the rules without ever mentioning rate cuts. The market took a week to react: this time, the Fed has truly changed!
This speech offers neither policy guidance nor any hint about interest rates. From the start, Powell makes his stance clear: what he’s presenting today is only an outline and a roadmap—don’t call it forward guidance. He reiterates the core argument since taking office: remove all interest-rate guidance, cut the statement from 341 words to 130, and teach the market to judge risks on its own.
💥 Two clues to redefine the game:
1. Inflation is still a red line: Powell clearly states that this summer’s improving inflation data “does not mean there has been a substantive improvement in the trend.” If pricing pressures don’t ease further, rate hikes remain an option. The probability of a September rate hike has jumped from 34% to 45%.
2. Make the Fed “say less”: Over the past two decades, the market has been trained to trade according to guidance. Now Powell wants to return to “normalcy”—the central bank shouldn’t interpret the economy for the market, and investors must judge the outlook themselves. He admits this will make markets more volatile and harder to predict—but that’s exactly what he wants.
The market panicked after hearing it: long-end yields surged, the dollar spiked, and S&P futures fell.
💎 When the Fed goes from “nanny” back to “referee,” there’s no one left to catch the market’s fall.
Same old saying: if it’s something you need to judge for yourself, nobody will make the decision for you. Those “consensus views” quietly built when nobody was paying attention never fear this kind of “return of uncertainty”👇
$DOGE
$ZEC
#台股TAIEX受芯片股带动重返46500点 #黄金8月上涨约14%
This speech offers neither policy guidance nor any hint about interest rates. From the start, Powell makes his stance clear: what he’s presenting today is only an outline and a roadmap—don’t call it forward guidance. He reiterates the core argument since taking office: remove all interest-rate guidance, cut the statement from 341 words to 130, and teach the market to judge risks on its own.
💥 Two clues to redefine the game:
1. Inflation is still a red line: Powell clearly states that this summer’s improving inflation data “does not mean there has been a substantive improvement in the trend.” If pricing pressures don’t ease further, rate hikes remain an option. The probability of a September rate hike has jumped from 34% to 45%.
2. Make the Fed “say less”: Over the past two decades, the market has been trained to trade according to guidance. Now Powell wants to return to “normalcy”—the central bank shouldn’t interpret the economy for the market, and investors must judge the outlook themselves. He admits this will make markets more volatile and harder to predict—but that’s exactly what he wants.
The market panicked after hearing it: long-end yields surged, the dollar spiked, and S&P futures fell.
💎 When the Fed goes from “nanny” back to “referee,” there’s no one left to catch the market’s fall.
Same old saying: if it’s something you need to judge for yourself, nobody will make the decision for you. Those “consensus views” quietly built when nobody was paying attention never fear this kind of “return of uncertainty”👇
$DOGE
$ZEC
#台股TAIEX受芯片股带动重返46500点 #黄金8月上涨约14%
