According to ChainCatcher, Peter Cardillo, chief market economist at Spartan Capital Securities, said that today's PCE reports are all good numbers, and of course, they show that inflation has peaked and is continuing to decline. Personal income (growth) is not very strong, and consumption continues to rise, which suggests that the possibility of a recession in the first six months of 2025 is at most minimal. It is clear that the Fed will cut interest rates. I think it is still controversial whether the rate cut will be 25 or 50 basis points. This will depend entirely on next week's employment data. If the data is much weaker than expected, assuming that (employment) growth is less than 100,000, then the possibility of a 50 basis point cut will increase, especially if inflation is moving in the right direction. He said: "I expect the Fed to have three rate cuts, and may cut interest rates by 0.5 percentage points in September, depending on employment data. Otherwise, there will be a 25 basis point cut in September and a 50 basis point cut in December."