Powell's April 16 speech summary: Uncertainty is high, we need to wait for the situation to become clear

Summary of Powell's speech on April 16:
1. Interest rate outlook: Uncertainty is high; currently in a good position, waiting for clearer signals before considering adjusting the policy stance.
2. Economic Outlook: The US economy remains "solid", with strong imports weighing on GDP growth in the first quarter, which is likely to slow from last year.
3. Inflation outlook: The impact of tariffs is likely to be more persistent, expected to push up inflation; PCE is expected to be 2.3% annualized in March, and core PCE is expected to be 2.6%.
4. Job market: overall balance; reduced funding for research is expected to have a significant impact on employment; unemployment is expected to rise.
5. Tariff impact: Tariffs imposed so far have been much higher than expected; policy is still being adjusted, and the impact remains highly uncertain.
6. Cryptocurrencies: Growing into the mainstream, a legal framework for stablecoins needs to be established; banking regulation is expected to be "partially relaxed".
7. Independence: The independence of the Federal Reserve is granted by law; the Federal Reserve will not be influenced by political pressure.
8. Other: Don't expect the Federal Reserve to come to the rescue; if there is a shortage of dollars, the Federal Reserve is ready to provide liquidity to global central banks.
9. Market reaction: After the US index fell, it rallied and then fell again; US stocks continued to decline, with the Nasdaq falling by nearly 4% and gold climbing slightly.