FED CHAIR POWELL: WE WILL WANT TO SEE THE BACKSIDE OF BOTH THE ENERGY AND TARIFF SHOCKS BEFORE EVEN CONSIDERING RATE CUTS, ADDING THAT THE ENERGY SURGE HAS NOT YET REACHED ITS PEAK.

Fed Chair Powell signaled that rate cuts are off the table until the full impact of energy price surges and tariff shocks has passed, emphasizing that the energy component has not yet peaked. This stance reinforces expectations for prolonged restrictive monetary policy, with rate differentials likely to remain elevated due to delayed disinflationary progress. The commentary weighs most heavily on risk assets sensitive to borrowing costs, particularly equities in rate-sensitive sectors and high-duration bonds, while also supporting the U.S. dollar as a safe haven. Energy-related inflation dynamics and import price pressures from tariffs will dominate the near-term Fed reaction function, keeping real yields in focus. Traders will closely watch the upcoming PPI and CPI reports for evidence that both energy and import prices have begun to roll over.

HIGH-impact news is typically a market-moving event with multi-pip or multi-percent intraday reactions. Examples include central bank rate decisions, major CPI/NFP releases, geopolitical shocks, mega-cap earnings beats/misses, and regulatory announcements. Traders typically position-reduce or hedge ahead of scheduled HIGH-impact events, and follow the wire in real time to react to unscheduled ones (war headlines, central-bank emergency statements, surprise corporate actions). The Trading News Terminal squawk box reads every HIGH-impact headline aloud the moment it hits the wire — so active traders don't have to stare at the feed.

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