What the market is truly waiting for isn’t CPI, but Chairman Powell’s stance

Each time CPI is released, it triggers market turbulence, but what can continue to affect the market trend is still the policy stance of the U.S. Federal Reserve Chair. This time, Powell will accept questioning by Congress for the first time after the latest CPI release. Lawmakers’ follow-up questions on inflation, employment, interest rates, and more are likely to lead the market to hear more information than what is contained in the official statement. If Powell acknowledges that inflation pressure remains stubborn, the market may further raise expectations for additional rate hikes or for keeping interest rates high over the long term; if he emphasizes the risk of economic slowdown, it may ease market anxiety. For stocks, gold, and digital assets, this means that future performance will depend not only on the data, but also on whether policy expectations change. Therefore, the importance of this hearing is even no less than that of an FOMC meeting. In the coming months, the direction of capital flows, risk appetite, and volatility across global capital markets may all be subject to the lasting impact of this speech. #沃什听证会撞上CPI