Powell: Don't expect the Fed to rescue the market, Trump is changing every day

Odaily Odaily News: Federal Reserve Chairman Powell said on Wednesday that the market's expectation that the Federal Reserve will intervene to calm volatility may be wrong. When asked whether the Federal Reserve would intervene in response to the sharp decline in the stock market, Federal Reserve Chairman Powell said: "My answer is no, but I will explain." "I think the market is digesting the current situation, and the market is dealing with a lot of uncertainty, which means volatility," Powell said while attending a conference in Chicago. Powell said it is understandable that the market will encounter difficulties given that US President Trump's tariff system is undergoing huge changes. He also explained that it is difficult to know what is causing trouble in real time. Powell said: "I have had a lot of experience with major market fluctuations, such as the bond market. Often people will form an idea and look back two months later and find that the original view is completely wrong. Therefore, it is too early to conclude what is happening in the market now." For now, he pointed out that the market's turmoil is partly due to hedge funds reducing leverage or debt, and added: "In the short term, you may continue to see volatility in the market."