Summarizing Bao's speech🔈

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

2. At the same time, it said that inflation will be in the lower end of 2%-3% this year, and inflation will return to 2% at 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.

So the subsequent initial jobless claims and non-agricultural data will return to normal levels and will not fluctuate as much as in May and June.