Powell's congressional testimony and hearing highlights

1. Inflation situation: "considerable progress" has been made, waiting for more good data to boost confidence.

2. Labor market: The labor market seems to have fully restored balance, and the unemployment rate is still at a historical low.

3. Economic situation: GDP growth seems to have slowed down in the first half of the year, and the economy is still growing at a steady pace.

4. Interest rate policy: Risks are balanced, and premature and excessive easing of policies may undermine the progress made.

5. Market expectations: The probability of the Federal Reserve cutting interest rates in September is slightly higher than 70%, and there will be two 25 basis point cuts this year.

6. Other content: A series of discussions have been held on the final plan of Basel III; many banks face commercial real estate risks. #鲍威尔说了什么 $SSV