Analysts believe U.S. Federal Reserve Chair Jerome Powell’s upcoming press conference may hold a hawkish surprise, potentially shaking market expectations. Without substantial government data, Powell is expected to stick with the current stance and offer limited hints about future policy adjustments. If Powell expresses uncertainty about a December rate cut, it could be perceived as a hawkish move by investors, especially given the current market confidence in a December rate reduction. This unexpected turn of events could potentially lead to a decline in U.S. stocks, an increase in Treasury yields, with short-term rates rising faster than long-term rates, a strengthening dollar and a dip in precious metals like gold and silver. Conversely, if Powell upholds his stance on the December rate cut, market volatility is expected to continue depending on developments in international trade.