Fed Chair Powell Plans Reversal of 2020 Strategy Amid Negative Trends, Dovish Tone Weakens US Dollar and Gold at $3,350

Federal Reserve Chair Jerome Powell is planning to reverse key elements of the economic policy strategy implemented in 2020, according to reports from the Wall Street Journal. This shift comes amid recent negative economic trends that have prompted a reassessment of the Fed's approach. Powell's anticipated policy U-turn reflects an adjustment to strategies that have not yielded the desired outcomes. Following his dovish tone, the US dollar has weakened, struggling to recover, while gold prices (XAU/USD) have declined to $3,350. The market's reaction underscores the impact of Powell's stance on currency valuations and investor sentiment.