TechFlow reported on July 25 that according to Jinshi data, Fed policymakers are expected to keep interest rates at 5.25%-5.50% next week, and will not start cutting interest rates by 25 basis points in September. The latest data shows that the US economy grew 2.8% last quarter, faster than expected and twice the growth rate in the first quarter of this year.

Before the data was released, traders expected the Fed to cut interest rates next week at about 9%, but that probability fell to below 7%. Ryan Sweet, an analyst at Oxford Economics, pointed out that the acceleration of the economy will help ease concerns about continued expansion. Traders expect the Fed to cut interest rates by 25 basis points in September, November and December, and reduced bets on further rate cuts. Previously, traders believed that the probability of the Fed cutting interest rates by more than 25 basis points before the September meeting was about 21%, which has now fallen to about 15%.