PANews reported on December 11th that, according to Cailian Press, after the Federal Reserve cut interest rates by 25 basis points as expected on Wednesday, Eastern Time, Chairman Powell delivered a speech. He stated that current interest rates are at a good level and can cope with changes in the economic outlook, but he did not provide guidance on whether there would be another rate cut in the near future. Powell pointed out, "It is worth noting that since last September, we have cumulatively cut interest rates by 175 basis points, including 75 basis points since this September. Currently, the federal funds rate is in a broad range of neutral levels, and we are in a favorable position to wait and see further developments in the economy." He added, "Monetary policy is not a fixed path set in advance; we will make decisions step by step based on the situation at each meeting." Notably, after Powell stated that no one currently considers a rate hike as a basic expectation, the three major US stock indexes began to rebound sharply. Analysts pointed out that Powell's speech undoubtedly relieved traders, who rushed to buy stocks. The optimism stemmed from the market's belief that the Fed would not consider raising interest rates, but rather focus on future easing policies, even if such easing may not materialize in the near future.PANews reported on December 11th that, according to Cailian Press, after the Federal Reserve cut interest rates by 25 basis points as expected on Wednesday, Eastern Time, Chairman Powell delivered a speech. He stated that current interest rates are at a good level and can cope with changes in the economic outlook, but he did not provide guidance on whether there would be another rate cut in the near future. Powell pointed out, "It is worth noting that since last September, we have cumulatively cut interest rates by 175 basis points, including 75 basis points since this September. Currently, the federal funds rate is in a broad range of neutral levels, and we are in a favorable position to wait and see further developments in the economy." He added, "Monetary policy is not a fixed path set in advance; we will make decisions step by step based on the situation at each meeting." Notably, after Powell stated that no one currently considers a rate hike as a basic expectation, the three major US stock indexes began to rebound sharply. Analysts pointed out that Powell's speech undoubtedly relieved traders, who rushed to buy stocks. The optimism stemmed from the market's belief that the Fed would not consider raising interest rates, but rather focus on future easing policies, even if such easing may not materialize in the near future.

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