Later, Fed Chairman Powell will deliver his twice-yearly economic report on Capitol Hill. During this period, he may face a series of "fierce" bombardment from lawmakers, which is also what we need to pay attention to tonight. Will Powell continue to "keep silent" on when the Fed will cut interest rates or make a positive response? This is a link he cannot avoid tonight. He said that he faces a more difficult task than usual. Inflation has become a political issue, and the election is approaching.

We need to focus on several speeches and answers during this period.

First, will Powell continue to hold the view that it may be appropriate to start easing monetary policy later this year, and will he continue to explore the details and this "soon" time.

Second, how does Powell view the current labor market? Affected by high interest rates, the job market has slowed down growth. Although wage growth remains strong, the potential risks in the market are still forcing Powell to make a choice. He needs to weigh this risk and the problem that premature interest rate cuts may lead to accelerated inflation.

Third, whether the PEC price index, which has begun to decline moderately, can be affirmed by Powell? Even if there is still no clear answer to the interest rate cut, if the achievements can be affirmed, then officials will have more confidence in the continued decline in inflation.