Core Insights - The statement from Federal Reserve Chairman Jerome Powell highlights a significant shift in market sentiment regarding confidence data [1] Group 1 - The confidence data reflects a substantial change in market emotions [1]

Core Viewpoint - Federal Reserve Chairman Powell indicated that consumer spending and inventory for the first quarter may be revised upwards, making it more challenging to assess demand in the U.S. [1] Group 1 - Powell stated that fluctuations in GDP data will not significantly alter the Federal Reserve's position [1] - The relationship between confidence data and spending has consistently been weak [1]