Powell actually said three things yesterday, don't get confused by the bureaucratic jargon. Let me translate it into the most straightforward language for you——

First, the economy hasn't collapsed yet, no rush to rescue it.
It's simple: the US can still hold on now, unemployment hasn't exploded, consumption is still there, and businesses haven't given up.
So you expect him to cut rates immediately to "save the market"? Sorry, there's no such necessity.

Second, inflation is still causing trouble, can't be controlled.
Inflation expectations are being revised upward this year, oil prices, tariffs, services—everything is adding trouble.
To put it bluntly: prices haven't obeyed, now if we inject more liquidity, it's like punching ourselves in the face.
Third, stop daydreaming about rate cuts.
Interest rates will stay put, and the internal attitude isn't dovish either——
Some people think no cuts, some think at most one cut, and truly optimistic ones are few and far between.
The meaning is obvious: want to wait for massive stimulus? Wait a bit longer.

The core message in one sentence:
Not about continuing to hike rates, but——
High interest rates are here to stay.

Who suffers the most?
BTC, AI stocks, growth stocks—all "live off liquidity," now it's like being starved into submission by future expectations.
What the market fears most isn't bad news,
but——originally thought candy was coming, only to have it taken back.

Finally, one plain-English summary for you: Powell isn't scaring people, he's saying: "The meal isn't ready yet, the fire can't be turned off, you better stay hungry."
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