Federal Reserve Chairman Kevin Walsh: Inflation far above 2% target

The three major indexes of the US stock market collectively closed down, with the S&P 500 index falling 1.22%, the Dow Jones Industrial Average falling 0.96%, and the Nasdaq falling 1.34%. Among large technology stocks, ASML rose 3.54%, Intel rose 3.46%, Micron Technology rose 2.20%, AMD rose 1.02%, Apple fell 1.10%, Nvidia fell 1.33%, Tesla fell 2.05%, Google A fell 2.53%, Amazon fell 3.46%, Microsoft fell 3.79%, SpaceX fell 4.95%, and Meta fell 5.44%. Among Chinese concept stocks, Ctrip rose 1.07%, JD.com fell 1.66%, Pinduoduo fell 2.12%, Xiaopeng Group fell 2.96%, Alibaba fell 3.14%, and Ideal Auto fell 3.28%.

The market is fully priced, and by the end of the first quarter of 2027, the Federal Reserve will raise interest rates twice.

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Federal Reserve Chairman Kevin Walsh confirmed regular meetings with Treasury Secretary Bessent, but did not disclose whether he had communicated with President Trump. Federal Reserve Chairman Kevin Walsh stated that Treasury Secretary Vicente released a breakfast group photo and pointed out that weekly meetings between the Fed Chairman and Treasury Secretary have been a long-standing tradition, with the two sides having met three times so far. Federal Reserve Chairman Kevin Walsh added that Treasury Secretary Benson is overseas this week, so this week's meeting is an exception.