According to online reports, summary of the key points of Powell's speech on April 16:1. Interest rate outlook: High uncertainty; currently in a good position, waiting for a clearer signal before considering adjusting policy stance. 2. Economic outlook: The U.S. economy remains "solid", with strong imports in the first quarter dragging down, and GDP growth may slow down compared with last year. 3. Inflation outlook: The impact of tariffs may be more lasting and is expected to push up inflation; the annual rate of PCE in March is expected to be 2.3%, and the core PCE is 2.6%. 4. Job market: Overall balance; reduction in scientific research funding is expected to have a significant impact on employment; unemployment rate is expected to rise. 5. Tariff impact: The tariff increase so far far exceeds expectations; policies are still being adjusted and the impact remains highly uncertain. 6. Cryptocurrency: Gradually becoming mainstream, a legal framework for stablecoins needs to be established; bank supervision is expected to be "partially relaxed". 7. Independence: The Fed's independence is given by law; the Fed will not be affected by political pressure. 8. Other: Don't expect the Federal Reserve to bail out the market; if there is a dollar shortage, the Federal Reserve is prepared to provide liquidity to central banks around the world. 9. Market reaction: The U.S. index fluctuated and rebounded after falling, and then fell again; U.S. stocks continued to fall, with the Nasdaq index falling nearly 4%, and gold climbing slightly.