I listened to the entire interview at the time, and the host did repeatedly try to lead Powell into saying that the stock market is in a bubble or that there are high risks in the stock market. However, it wasn’t Powell who actively mentioned that the stock market is overpriced. Plus, I don’t think the U.S. stock market will see a major correction just because Powell said it’s expensive. This isn’t 2022 anymore—it's already inevitable that the Fed is entering a rate-cutting cycle; it’s just a matter of time. Also, as @逃课君 mentioned, Powell has been making every effort to prove that the Fed doesn’t want to manipulate the stock market. He even thinks that stock prices fluctuating with the cycle is completely normal. Later on, they kept pressing Powell about AI, trying to hear what he had to say about AI—it was almost like they were out of their minds. This post is sponsored by Bitget ｜ @Bitget_zh