On the evening of December 1st, the head of the Fed, Powell, appeared at a memorial event at Stanford University. However, don't expect him to reveal any policy signals—his entire speech didn't mention inflation, employment data, or how interest rates might be adjusted, fully adhering to the "quiet period" rules before the Fed's December meeting.

This event is in memory of the late former Secretary of State George Shultz. Powell spent considerable time praising this senior figure: both pragmatic and principled, he set a benchmark for his juniors. He also specifically quoted Shultz's classic line - "Trust is the hard currency, only with mutual trust can good things happen." The implication is that Shultz's integrity is the foundation for building trust.

To put it simply, Powell is here to pay tribute to his predecessors, and to show that central bank officials also have a humanistic side. As for the monetary policy direction that everyone is concerned about? Let's wait for the press conference after the interest rate meeting.