With the formal conclusion of the Fed's December meeting, this year's journey of raising interest rates has come to an end.

However, when asked whether the Fed's 2 per cent inflation target would change, Mr Powell stammered: "this could be a long-term project". The statement is also seen as opening the door to a higher inflation target.

Looking forward to 2023The Fed's dynamics will still affect the market nerves, and investors need to focus on its FOMC meeting.

Quickly understand FOMC:

• The Federal Open Market Committee (The Federal Open Market Committee, referred to as FOMC) belongs to the Federal Reserve system of the United States, which votes on the federal funds rate and policy decisions by holding discussion meetings.

• The Federal Open Market Committee is made up of 12 members, also known as the voting committee. Seven Fed members and the president of the New York Federal Reserve Bank hold eight seats, and the other four seats are held by the presidents of the remaining 11 Federal Reserve banks in turn.

• Changes in the federal funds rate have a direct impact on all other interest rates, from Treasuries to mortgages, and have an impact on the economy, while changing investors' perceptions of the competitiveness of the dollar.
  

• FOMC has eight important regular meetings each year, each at intervals of about six weeks. It is held for two days at a time, and the upper and lower limits of interest rate decisions are often announced the next day.

• The Fed chairman's press conference was held half an hour after the interest rate resolution was announced, the minutes were released within three weeks of each meeting, and economic expectations and bitmap were released only in the last month of each quarter.