Backpack hinted at the start of the "official season" this Friday

Spot gold continued to rise above $3,050 per ounce, setting a new record high.

US stocks continued to rise, with the Nasdaq up more than 2%, the Dow up 1.25%, and the S & P 500 up 1.5%.

Federal Reserve Chairperson Jerome Powell said the central bank was in a position to cut interest rates or maintain a restrictive stance. Removing language about risks from the statement did not signal anything. Asked if the Fed would cut rates in May, Powell said there would be no rush to cut rates.

Federal Reserve Chairperson Jerome Powell said the central bank did not need to rush to adjust its policy stance and was ready to wait for more clarity. If the economy remains strong, policy constraints can be maintained for longer. Powell said he has seen some signs of tightening in the money market, with market indicators indicating ample reserves.

Federal Reserve Chairperson Jerome Powell said that if the last two months of commodity inflation data continue to be strong, it must be related to tariffs. If inflation subsides on its own, monetary policy should not be tightened. It will be known in a few months whether the increase in commodity prices in the first two months of the year is due to tariffs.

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Federal Reserve Chairperson Jerome Powell said the survey showed that tariffs are driving inflation expectations, and uncertainty about the new policy and its impact is high. Determining the extent of the tariffs' impact on inflation will be difficult, and it is too early to say whether it is appropriate to ignore the impact of tariffs on inflation. And said the new administration is implementing major policy changes, and the net effect is the key. Powell said inflation remains relatively high a...

Brian Jacobsen, chief economist at Annex Wealth Management, said the scale reduction was a bit of a surprise. According to the latest projections, the impact of tariffs is expected to last for several years, but the Federal Reserve may not budge. Unlike in 2019, when the Fed finally decided to cut interest rates in response to a tariff-induced slowdown, this time the Fed plans to stay the course.

Michele Raneri, vice president and head of U.S. research and consulting at Transunio, said that despite the relatively optimistic recent CPI data, the general consensus in the market before today's decision was that the Federal Reserve would not cut interest rates. This expectation was indeed correct. However, indicators such as the aforementioned CPI data, as well as the upcoming unemployment rate data, could still lead the Federal Reserve to consider cutting interest rates later this year, wit...

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Futures data show that traders see a 62.1% chance that the Federal Reserve will resume rate cuts at its June meeting, compared with a 57% chance before the Fed's decision.

The median value of the Fed's March dot plot shows that the Fed expects to cut interest rates twice in 2025 by 25 basis points each, and expects to cut rates twice in 2026 by 25 basis points each, in line with December expectations. However, the number of officials who support no or less rate cuts in 2025 increased, from one to four officials who support no rate cuts, from three to four officials who support one rate cut, from 10 to nine officials who support two rate cuts, and from three to two...