Powell's appearance tonight: Middle East situation combined with inflationary pressure, interest rate cut expectations tested again According to BlockBeats, on March 30th, Federal Reserve Chairman Powell will attend a public event and receive on-site Q&A at 22:30 Beijing time tonight. Against the backdrop of ongoing tensions and intensified market volatility in the Middle East, this speech is considered one of the most closely watched macro events of the week. The market generally expects Powell to continue his cautious stance and avoid giving clear signals on the path of interest rate cuts. In the current situation where inflation remains above the 2% target, coupled with increased uncertainty caused by tariffs and geopolitical conflicts, the probability of the Federal Reserve maintaining interest rates unchanged in the short term has increased, and the expectation of 'no interest rate cuts' continues to strengthen. Meanwhile, the tense relationship between US President Donald Trump and the Federal Reserve continues. If Powell releases a hawkish or wait-and-see signal, the market expects Trump to exert pressure again and strengthen policy games. In terms of fundamentals, there are signs of weakness in the US job market, with a significant decline in new employment in February, putting pressure on the economic outlook and putting the Federal Reserve in a dilemma of "high inflation+slow growth". Analysts point out that until the situation in the Middle East becomes clear, monetary policy is likely to remain cautious, and market trends will still heavily rely on geopolitical and inflation path changes.