Five key points of Powell's speech:

1 Interest rate outlook: Reiterated that interest rates may be kept high for a longer period of time, and did not think that the next move might be to raise interest rates, and it is more likely that the policy interest rate will be maintained at the current level.

2 Inflation outlook: Confidence in the decline in inflation is lower than before, and the lack of further progress in inflation in the first quarter of the United States is noteworthy; the inflation rate is expected to fall month-on-month.

3 Economic outlook: The US economy is performing very well and has a very strong labor market; GDP is expected to continue to grow at a rate of 2% or higher, benefiting from the addition of new labor.

4 Market reaction: Since the beginning of Powell's speech, gold has basically remained sideways, rising to a maximum of $2,356.72; the three major U.S. stock indexes have generally shown a "V"-shaped trend.

5 Latest expectations: The market currently expects the Federal Reserve to cut interest rates by 40BP this year; the probability of interest rate cuts in June and September is stable at around 50%, which is basically consistent with before Powell's speech. #BTC走势分析 #5月市场关键事件