Bao's speech last night was summarized as follows:

1. He did not mention the interest rate issue, but said that the current inflation decline is on the right track.

2. He also said that inflation will be in the lower end of 2%-3% this year, and inflation will return to 2% by the end of next year or the year after.

3. The market's expectations for interest rate cuts have been reduced again, and the market has fallen in the short term.

4. The Federal Reserve clearly stated that the important indicator of interest rates is the inflation level, and the performance of the economy has little impact on interest rates.