[Highlights Of Fed Chairman Powell's Semi-annual Monetary Policy Testimony] Highlights Of Fed Chairman Powell's Semi-annual Monetary Policy Testimony: 1. Interest Rate Outlook: Reiterate That There Is No Need To Rush To Adjust Interest Rates. If The Economy Continues To Be Strong And Inflation Does Not Approach 2%, Policy Caution Can Be Maintained For A Longer Period Of Time. If The Labor Market Unexpectedly Weakens Or Inflation Falls More Than Expected, Policy Can Be Moderately Relaxed. It Is Believed That The Neutral Interest Rate Has Risen. 2. Inflation Situation: Long-term Inflation Expectations Appear To Be Solid. The Inflation Rate Is Close To The 2% Target, But Still Slightly High. Always Focus On Achieving The Goals Of The Dual Mandate. The Fed's Framework Assessment Will Not Focus On Inflation Targets. 3. Labor Market: The Unemployment Rate Remains Low And Stable. Labor Market Conditions Have Cooled From The Previous Overheated State And Remain Robust, And Have Not Become A Source Of Inflationary Pressure. Labor Market Conditions Remain Roughly Balanced. 4. Bank Supervision: Commit To Tailor Bank Supervision And Strive To Avoid Excessive Burdens On Banks. It Is Necessary To Re-examine The Issue Of "de-banking". Committed To Completing The Ultimate Goal Of Basel III. 5. Long-term Interest Rates: The Fed Cannot Control Long-term Interest Rates, And The Reasons For High Long-term Interest Rates Have Nothing To Do With Fed Policy. Long-term Interest Rates Are Determined By Supply And Demand In The Bond Market. 6. Tariff Issues: Still Stick To The Previous View That Countries That Implement Free Trade Have Faster Economic Growth. The Fed Does Not Comment On The Trump Administration's Tariff Policy. 7. Housing Issues: Fannie Mae And Freddie Mac May Lower Mortgage Rates. Even If Interest Rates Fall, Housing Shortages Will Still Exist. It Is Unclear Whether Rate Cuts Will Lead To Lower Housing Inflation. 8. Other Key Points: If The Consumer Financial Protection Bureau (CFPB) Is Closed, There Will Be A Gap In Consumer Compliance Protection. It Is Absolutely Impossible To Launch A Central Bank Digital Currency