No!The Federal Reserve pulls down the veil to completely turn the Eagle School

Originally, I still hugged the pipa half -covered. This time I didn't pretend to be directly, and the pigeon faction was pulled down. It turned out to be an eagle face.

The Federal Reserve President Powell delivered an 8 -minute keynote speech at the Jackson Hall Economic Policy Forum last Friday. In the 8 minutes, the three major US stock indexes fell 3%, and the S & P 500 index fell to the largest record of nearly two months.

Powell's speech summarizes a sentence, that is -the primary work is to control inflation, economic and employment weakened is a necessary price.

The Fed has always been a master of monetary policy to fight Tai Chi, and strives to reduce the impact of policy on economic and financial markets by guiding market expectations and repeatedly digesting policy. Earlier, Powell once said that the US interest rate level has reached neutral. What is neutral, which direction to offset in the future? This is a statement that makes the market very confused.

According to the discussion meeting in July, the market has already relaxed concerns about interest rate hikes. The statement stated that with the tightening of monetary policy, the rhythm of slow interest rate hikes in the future may be appropriate to evaluate the impact on the economy and inflation. The data released later showed that the downward pressure on the US economy was obvious. In the second quarter, the initial value of GDP shrinking 0.9%, and in July CPI fell 0.6%to 8.5%year -on -year, and the core CPI maintained 5.9%without going on. GDP downward and CPI are controlled. It seems that the Fed should slow down the rhythm of interest rate hikes, so the recent US stocks have rebounded.

The Federal Reserve ’s completely switched to the eagle this time has greatly exceeded market expectations. According to Powell's latest statement, GDP, employment and other indicators will not hinder the interest rate hike process, and the market's concerns about the decline in the US economic decline will rise again. At present, the US stock market's net short position has risen to a new high in the past two years.

In contrast, A -share performance is very strong. Facing the dual pressure of the Fed's tough interest rate hikes and US stocks, the stock index has not further decreased significantly. As of the closing of August 29, the northbound capital was net purchase of 2.1045 billion yuan throughout the day, and the net purchase of the Shanghai Stock Connect was 1.306 billion yuan for 3 consecutive days. Just as the view of the previous column: The foreign capital running away will return because the Chinese market is unique.

Qingdao Finance Daily/Homepage Journalist Li Dongming

(The views in the article are for reference only, do not constitute investment suggestions, have risks in investment, and need to be cautious to enter the market.)

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