Powell's most crucial signal this time is actually just one sentence: The current interest rate level is pretty good, and there will be no immediate changes.

How to understand this? It means the Federal Reserve believes that the current interest rate has reached the appropriate level, and there is no need to further raise rates to curb inflation or to cut rates to stimulate the economy. Whether to make adjustments next depends on subsequent data—employment, inflation, GDP, and other indicators need to be continuously monitored.

In simple terms, it's about holding steady and waiting for the market to provide a clearer direction. Other wording changes are basically routine operations and shouldn't be over-interpreted.