The speech by The Federal Reserve Board of Governors Waller briefly outlined three key points!

1: An increase in tariff measures may lead to layoffs, and one effective way to offset tariff costs is through layoffs, signaling to the market that there may be an unexpected unemployment rate in the future.
2: The impact of tariffs is basically the same in the first half of the year, more likely to be reflected in the second half of the year and may be a one-time impact rather than multiple times.
3: Policies are still formulated based on data. With the rise in unemployment rate, interest rate cuts may begin. The unemployment rate is a hard indicator for starting interest rate cuts, which cannot be changed. However, if the unemployment rate becomes too high, it will not be favorable. Additionally, it emphasizes the position of The Federal Reserve (FED) and Jerome Powell's position.
There's nothing else, just looking forward to the release of the first non-farm payroll data and the unemployment rate in May!
In summary, Waller has sent some signals to the market in this speech, which is quite good.
The US stock market performed well today, but $BTC didn't follow. No worries if it doesn't follow; it can still rise later!