Summary of this press conference: First of all, I have to admit that there are many differences in expression between Walsh and Powell. With my ability to translate straight balls, I can barely do it. However, once I use a lot of professional terminology, I will be very tired. By the time I get to the next few questions and answers, I can't keep up. Indeed, my English proficiency is still very poor 。 From the overall answer, it doesn't seem very similar to previous expectations. Walsh didn't give a loose attitude, but he spoke firmly about raising interest rates. He said that the Fed has not yet considered raising interest rates as an option internally, which may be the most dovish content today. In addition, today's focus is on the reform of the Federal Reserve, proposing the addition of five new working groups to attract capable external parties to join and provide some assistance to the Fed's decisions. In addition, Walsh hopes to downplay the dot matrix, believing that it may give the market the illusion that it is not necessarily correct, and does not want to see the dot matrix as a commitment from the Federal Reserve. To reduce the market's reliance on forward guidance, the key is to look at the data before making decisions. From my personal perspective, today seems to be more neutral and not too intense. The only guidance that can be given is that 'none of the 19 people present feel that we need to tighten policy today.' This means that there is no expectation of interest rate hikes in the short term.