A few comments:
- The situation is complicated by the fact that there are too many factors influencing the overall situation lately
- news is not released at the same time, but sequentially, so traders can change their positions as the data comes in.
- Another rather interesting situation:
US Senators (Elizabeth Warren, Jacky Rosen and John Hickenlooper) sent a letter to the Fed demanding to lower the interest rate.
It is highly probable that Powell will not react in any way, as he is more concerned with the inflation situation, but still, the very fact of active influence on the policy...