Last November 2022, the Fed's discourse changed. Although you may not have noticed, something happened that will change the future of this year, and only 170k people watched live. This is J. Powell's statement, and, believe it or not, it is critical to understand what a recession entails.

First, the fact that so few people watched such an important event shows the importance of the economy in general for the average citizen, which is negligible. It also gives us an advantage over all of them.

But why do we say that this speech is so important?

Very simply, the Fed has always needed discourse to justify its monetary actions.

• 2020: the Covid crisis made them do what was necessary to save the economy, and they did so, flooding the market with liquidity. The market went up.

• 2021: they had the discourse that the inflation generated in 2020 was transitory, which justified continuing to do the same. The market went up.

• 2022: the message focused on stopping inflation. To do th…