美联储观察员 ： 鲍威尔对 FCI 的依赖减少

Deutsche Bank's Fed Watcher report suggests that Powell is leaning less on Federal Reserve intervention (FCIs) and is now more focused on the appropriate level of interest rates rather than the duration of hikes. The report also notes that Powell is aware of the risk of financial conditions becoming too tight and is closely monitoring the recent rise in yields. The report concludes that while the Fed is confident that its policy is currently "significantly restrictive," there is uncertainty about how much further inflation will fall from supply improvements and how much demand moderation will be needed. The report also mentions that the Fed is not ignoring the possibility of "significant tightening" in financial conditions and is carefully examining the reasons behind the recent rise in yields.