The important words of FED chair Jerome Powell in his last speech:

"We do not believe it is appropriate to lower the policy rate until there is greater confidence that inflation will move sustainably toward 2%.

We will carefully assess incoming data, the evolving outlook and the balance of risks.

The economic outlook is uncertain, there is no guarantee that the move towards 2% inflation will continue.

US and China agree, big cooperation in the works US and China agree, big cooperation in the works

The policy rate is likely to be at its peak this cycle.

At some point this year it will probably be appropriate to start reducing policy constraints.

Inflation is still above 2%, but the risks have eased considerably.

Labor demand is still above supply, nominal wage growth is slowing.

The Fed's restrictive stance is putting downward pressure on economic activity and inflation.
The labor market remains relatively tight.

There is a risk of cutting interest rates too soon and too fast, as well as too little or too late."