Summary of key points from Powell's speech on September 23: No new signals regarding interest rate cuts
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Federal Reserve Chairman Jerome Powell reiterated that there is no risk-free path in policy.
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Powell mentioned the uncertainty of inflation and the increased risks to employment.
Businesses are hesitant because they do not know what to do.
A low unemployment rate and a low-employment economy are tough for young workers.
It is still too early to assess the impact of artificial intelligence (AI).
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He maintains that tariffs are a one-time event, and the impact of tariffs may be temporary.
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Financial stability risks have not increased.
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Market reaction: The yield on the U.S. two-year Treasury bond remained down by 0.85 basis points, at 3.5945%; the yield on the 10-year U.S. Treasury bond briefly fell, with an intraday decline exceeding 2 basis points, approaching a daily low of 4.1196 reached at 19:50 Beijing time.
The Nasdaq 100 index's decline widened to 0.55%, with the Nasdaq down 0.67%, the S&P 500 index down 0.44%, and the Philadelphia Bank Index up 0.14%.
The U.S. dollar index fell 0.06%, stabilizing below 97.300 points
