Decoding the new direction of the Federal Reserve: the working group is the "central nervous system" of Powell's reform, and will set a new framework for monetary policy by the end of the year.

According to the Wise Finance APP, on Wednesday US Eastern Time, the newly appointed chairman, Kevin Wash, delivered a speech at the Fed podium for about 43 minutes. The core message was that he will gradually push the Fed to become more low-profile, more modest in its interactions with the market and the economy, and ultimately focus all attention on the issue of inflation. Wash told reporters, "For years, I have been saying that inflation is a choice. There is no doubt about that." Wash added that policymakers will strive to "achieve price stability." He admitted that the inflation rate has been significantly higher than the Fed's target of 2%, and said, "Persistently high prices are a burden for the American people."