The market in 2022 will be difficult, but for most of the year, there is at least one opportunity to make an easy profit.

Last year, investors only need toAfter the announcement of the Federal Reserve FOMC meeting,AndBefore Chairman Powell began his speech at the press conference,Buy stocks and bonds and sell them at the end of Powell's speech.

But now, as the rate hike cycle draws to a close and future interest rates become more predictable, the days of easy money seem to be over.

The stock market performed well during Powell's speech last year.

When the fed began its current round of rate hikes in march last year, u.s. stocks rose astonishingly during the 60-minute window-1.6%, according to Bloomberg.

This continued to happen: the meeting rose 2 per cent in May, 2 per cent in June and 1.6 per cent in July.

Whatever Powell said, traders interpreted it as dove, or at least more hawkish than the FOMC statement they just read.

This opportunity for easy profit seems to be fading.

The frenzy suddenly resurfaced in February, when u.s. stocks soared by 1.6%. The bond market has a similar trend, albeit to a lesser extent.

Apart from the February rally, Powell's comments at a recent press conference led to small losses in the market. This is bad news for companies that are highly traded and re-quantified. Analysts suspect that these companies are best at such trading strategies.

A larger and more important message isThe wild swings shown by the market at the beginning of the rate hike are slowly disappearing.

As inflation cools, future interest rate movements are more predictable than when Powell initially planned to raise interest rates aggressively. There is less room for traders to misunderstand Powell's comments.

Ed Al-Hussainy, global interest rate strategist at investment firm Columbia Threadneedle, said:

"the rate hike is probably coming to an end, so do you want to continue the strategy of 2022? I wouldn't do that. I will take my profits and do other things. "

Why traders always misunderstood Powell before

The criticism is directed at Mr Powell's ambiguous communication about the Fed's position on inflation, but no one really knows why traders have been pushing stocks higher as Mr Powell spoke.

One theory is that Powell is more dovish than other FOMC members (Powell is actually centrist, according to a new Bloomberg survey of economists), or that he is reassuring dovish members of the committee to take their side.

It is also said that Powell in the case of some questions raised by reporters, continue to use anti-inflation and financial conditions and other words, thus triggering the algorithm's buy order.

But the most popular explanation is thatInvestors just choose to hear what they want to hear.

Many investors who have made huge gains in the bull market are eager to return to low interest rates.As a result, they are likely to hold on to anything that Powell implies a dovish position and interpret it as the end of the rate hike cycle or an imminent rate cut, even if Mr Powell does not intend to send such a signal at all.