Key points of Lao Bao’s speech:

Fed Chairman Powell: Cutting interest rates prematurely will cause great disruption.

Fed Chairman Powell: But waiting too long could cause unnecessary damage to the economy and labor market.

Fed Chairman Powell: We can and will be cautious about this decision.

Fed Chairman Powell: We don’t need to rush to cut interest rates.

Fed Chairman Powell: We can wait and become more confident before cutting interest rates.

Fed Chairman Powell: Monetary policy is ready to respond to many different data paths.

Fed Chairman Powell: If the data does not match our expectations, we have the ability to respond.

It is currently in line with expectations. Basically, the April halving narrative continues, and the bull market continues...

Just rush forward with confidence!