I was a bit confused about the assignment today, especially the fight between 25 and 50. You say it is good news, right? The US stock market has been going back and forth during Powell's speech. Even though it seems to be over now, the rise and fall of the US stock market is still jumping on the horizontal line. You say it is bad news, but there is still a sentiment of rising every now and then.

Judging from Powell's speech alone, Powell has been emphasizing the relationship between the labor market and inflation, believing that a balance has been reached now, and that the Federal Reserve is currently ahead of the economy (employment), and that a 50 basis point rate cut is still defensive, and no problems are expected in the US economy.

Although the market has expected the Federal Reserve to cut interest rates by 50, it seems that Powell's explanation is not very popular. In fact, it is quite interesting. After the 50% rate cut, the US dollar index rose back to above 101, and the long-term US bond interest rate rose. So I personally think that the market is still in a game period, and there is no clear answer.

Whether the US economy has entered a recession, whether the Federal Reserve has seen information that investors cannot see and has chosen to prevent problems by "walking ahead", these are all concerns of investors, but it is obvious that Powell's answer today did not give the market a satisfactory answer, so the battle between long and short may not be today, but tomorrow, let the market calm down and see later.

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