Models show a decrease in the dovish tendency of Powell's opening remarks, with overall neutrality

According to an analytical tool based on natural language processing, Federal Reserve Chairperson Jerome Powell's opening remarks were slightly less dovish and generally neutral. "Despite the dovish dissenting votes of two governors, Powell's remarks remained very neutral," the analysts noted. "Although a September rate cut is still on the table, his remarks do not clearly prepare the market for this possibility based on the model results. The following meeting notes and the speech at the Jackson Hole annual meeting are more likely to be the opportunity to pave the way for September action."