Internet reports that the next meeting of the Federal Reserve will be held from May 6 to 7. Futures markets had raised the odds that the Fed would cut interest rates at that meeting to about 50%, but after Powell spoke, the odds dropped to about 30%. Market participants wanted to see the so-called Fed Put, in which the Fed cuts interest rates to calm troubled markets, but on Friday their expectations fell short, sending stocks lower. "Powell's comments highlight the way we are still a long way from the macro environment and market data that could produce a 'Fed Put'," wrote Evercore ISI Chairman Krishna Guha. "He is seeking to control expectations to leave room for a rate cut when unemployment rises sharply, and until then, pre-emptive action is impossible given the scale of the surge in tariff inflation." For Powell, there is no rush yet. Guha said: "It feels like we don't need to rush, it feels like we still have time."