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Powell's speech interpretation: Not a hawk! But steady!
Do not over-interpret his words, but rather consider them in the context of the overall statement.
1. Stabilize market sentiment
Today's slight fluctuations and pullbacks are mainly a normal technical retracement after the excessive rise over the past two days. He particularly emphasized that the significant interest rate hikes or cuts by the Federal Reserve over the past five years typically occur in extreme situations where policies are severely misaligned and require rapid adjustments, and such an environment does not currently exist.

2. The economic situation in the United States
Powell clearly stated that the U.S. economy is not bad.
He is satisfied that economic activities and consumption remain stable, which means the fundamentals are still healthy, with no signs of recession.

3. Overall Signal
The tone of the entire speech was "stable" rather than overly hawkish. Although the initial remarks had a slightly hawkish flavor, leading to short-term fluctuations in the market, he clarified his position in the subsequent Q&A session, providing the market with a "sense of reassurance."

Overall, this speech has stabilized the fundamentals of the US economy and financial markets to a greater extent.