There's no need to worry about Powell's hawkish remarks. Take a look at the chart below. The year-on-year growth in CPI in June last year was a historic high of 9.1%. Since June, it has been declining continuously, so under the influence of a high base, the CPI will naturally fall back within the 2% range, without a significant interest rate hike at all. The Americans are not fools either. If they raise interest rates significantly and add a sieve, even if the inflation target has been reached, they will add a hammer. At best, the final increase will be a small increase. Unless the black swan causes a sudden surge in CPI, but it feels unlikely. The reason why Powell said he wanted to raise interest rates is an expectation management tool. Recently, the stock market has been too strong, which is not conducive to suppressing inflation. Once the market responds, the Nasdaq 100 will continue to rise again, and AI and technology stocks will continue to break new highs. $E-mini Nasdaq 100 - main 2309(NQmain)$