Powell's tone usually isn't extreme, but currently it is clearly **"not in a rush to shift to easing"**:

* Inflation has not fully returned to the target (2%), especially core inflation remains sticky
* The labor market remains robust, with no obvious signs of recession
* Therefore, the Federal Reserve is unlikely to cut interest rates easily
👉 Keywords: higher for longer (maintaining higher interest rates longer)
2. Attitude towards inflation: still the top priority
Powell repeatedly emphasizes:
* Anti-inflation efforts are “not yet complete”
* If inflation rebounds, further tightening policies are not ruled out
This means
👉 The Fed's current biggest concern is not economic slowdown, but a second rise in inflation
3. Economic outlook: soft landing remains the main theme
His speeches usually convey a sense of “balance”:
* Economic growth is resilient
* Consumption remains steady
* No clear signs of recession
👉 This is the so-called “soft landing expectation”:
Neither a crash nor an overheating