SUMMARY OF FED CHAIRMAN POWELL'S SPEECH

- INFLATION HAS MOVED SIGNIFICANTLY CLOSER TO TARGET, BUT IS STILL HIGH

- WE DO NOT NEED TO RUSH TO ADJUST INTEREST RATE

- The Fed continues to approach each meeting

- The Fed's long-term inflation target of 2% will not change.

- Powell explained that removing the sentence mentioning inflation was just a language adjustment to shorten the content, not a sign that inflation is rising again.

- Currently, we have favorable conditions to continue controlling inflation.

However, having favorable conditions does not mean real progress will be achieved. It should be noted that the FED will not wait until inflation drops to 2% to start cutting interest rates.