Last night, after watching the Federal Reserve meeting and Powell's speech, I was completely exhausted. I didn’t go to bed until 5 a.m., just to see the cards in this game clearly.

The result is out: a 25 basis point rate cut, in line with expectations, proceeding step by step. But what’s truly interesting are the details—the dot plot directly reduced the number of rate cuts in 2026 to just one, and even more surprisingly, three officials voted against it.

What does this mean? The Fed says they aim for a "soft landing," but in reality, they are still hesitant to loosen. The inflation threat has not been fully dealt with, and they don’t want to make money too easy to borrow.

Therefore, the stance of this meeting is very clear: neutral leaning hawkish. Neutral is reflected in the rate cut action itself, while hawkishness is shown in their tightening attitude towards future policy.

Against this backdrop, the short-term market is likely to continue fluctuating, digesting this set of information. If you're unsure how to proceed, watching the market is also a strategy. The market won’t run away just because you're a step slow, but impulsiveness can cost you dearly.