Officials from major central banks around the world, including the Federal Reserve, have all hinted at a firm determination to lower or continue to lower interest rates.

Officials from three major central banks hinted on Friday that they will firmly lower or continue to lower interest rates in the coming months, marking the beginning of the end of the era of high borrowing costs as the global economy escapes the control of post-epidemic inflation. "It's time to adjust policy," Fed Chairman Powell said at the Jackson Hole conference. He almost promised that the Fed would cut interest rates at its September meeting. The determination of the start date of the rate cuts, as well as the fact that many of the world's major central banks are working in the same direction, have eliminated some of the anxiety of investors.

After the landmark rate cut in June, several ECB members - Bank of Finland Governor Rehn, Latvian Central Bank Governor Kazaks, Croatian Central Bank Governor Vujcic and Portuguese Central Bank Governor Centeno - have said they would support another rate cut next month. Bank of England Governor Andrew Bailey said in prepared remarks that the risks of persistent inflation are receding, suggesting an openness to further rate cuts. However, neither Powell nor other Fed officials offered much guidance on how quickly they intend to continue cutting rates in the coming months. "It's all about optionality and calibrating how they get 'down the hill,'" said Diane Swonk, chief economist at KPMG. "The speech made it clear that the labor market is now their primary focus."