Powell just dropped some telling language: "extent and timing." What's he really saying? The Fed's keeping its cards close, planning to dissect every data point before making their next move. No rushed decisions here—they're in full wait-and-see mode. For markets, this means volatility could stick around as traders parse each economic release. Every jobs report, every inflation print now carries extra weight. The central bank's playing it cautious, which historically hasn't been the friendliest environment for risk assets.