I looked at the speech by the new Federal Reserve Chair Jerome Powell, and it's actually quite clever. Many people say he's hawkish, but I think he's a bit dovish. First, he said the economy is doing well, and when asked about rate hikes, he said many officials wrote them in pencil, with erasers on top, meaning they can be changed at any time.

He also mentioned that future meetings will only last 15-20 minutes, implying that the previous Chair Yellen was too slow and dragging, and he will be more decisive and swift, even though currently there are no rate hikes or cuts.
I estimate that as long as inflation data improves slightly, he will cut rates.