Fed Chair Powell (Q&A) says SEP is never locked in, people are happy to change their forecasts; forecasts are subject to high degree of uncertainty

Fed Chair Powell's comments indicate a flexible approach to monetary policy, suggesting that the Fed is open to adjusting its forecasts in light of uncertainty. This could signal to markets that the path of future rate hikes remains data-dependent, influencing expectations around the USD's strength and fixed income markets, particularly if participants perceive a dovish tilt.