#PowellRemarks

Jerome Powell again delivered his speech, and the markets reacted as if they had received a cold shower. Speaking at the Economic Club of Chicago, the head of the Fed warned that Trump's new tariffs could drive up inflation and harm employment. Instead of promising rate cuts, Powell emphasized that the Fed would be patient while observing the situation. Investors were hoping for a dovish tone, but they received a warning about the potential effects of protectionism. The S&P 500 fell by 2.2%, the Nasdaq by 3.1%, and tech stocks like Nvidia took a hit. Powell stressed that current market conditions are stable but did not rule out intervention in the event of more serious disruptions. In short: the Fed does not intend to forcefully rescue the market, and investors must prepare for greater volatility.