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In this meeting, I personally feel that Powell is playing a "Yin-Yang" game with Trump. First, the downside risk to labor data could lead to an economic slowdown, mainly due to immigration, which everyone knows has been one of the most actively pursued policies by Trump since taking office, aside from tariffs. Secondly, it is believed that without tariffs, the Federal Reserve would have already entered a full-rate-cutting cycle. It is the tariffs that have caused a new round of inflation. Without tariffs, current inflation would be very close to 2%. Of course, Powell also believes that if tari

January Federal Reserve FOMC Summary
Overall, journalists' gossip questions will be more frequent than the current inflation issues, but Powell clearly is unwilling to answer any gossip questions, including whether he will continue to serve as a board member after resigning as Fed Chair. This is the first time in my listening to press conferences that the first five questions Powell did not answer, including one from Nick.
Regarding other questions, mainly wanting to know if a rate cut cycle is coming next, I personally think Powell remains quite dovish in his responses, with almost no hawkish

In the early morning phase, Trump mentioned his views on the US dollar in his speech, believing that the dollar is currently performing well and still holds high value, while also stating that China and Japan have been keeping their exchange rates lower.
Trump believes that the dollar's depreciation is not significant, and that the current decline in the dollar is searching for its own balance point. He also expressed confidence in his ability to control the dollar's rise and fall at any time.
From this statement, it can be seen that Trump is supportive of and hopes for the dollar's depreciati

The US Dollar Index fell to around 95.76, touching the lowest level since 2022 and reaching a critical point of dollar strength and weakness. The next step depends on whether the US government will intervene or let it go!
Along with the decline of the US Dollar Index, the prices of 10-year and 30-year US Treasury bonds have fallen, yields have risen, and gold continues to rise. These are typical signs of short-term dollar asset sell-off. If the Japanese government does not step in to support US bonds, the situation could become even more dire.
Next, the once-triangle of stocks, bonds, and curr