According to Jinshi Data, Federal Reserve Chairman Powell said at a press conference that if the Fed sees the non-farm payroll report released a few days after the July resolution in advance, it may cut interest rates for the first time at the July interest rate meeting.

The July non-farm payrolls report showed a weak U.S. labor market. Powell said: "If we had gotten the July employment report before the meeting, would we have cut interest rates? We probably would have. We didn't make that decision, but you know, we probably would have made it."