According to Jinshi, Christoph Rieger, head of interest rate and credit research at Commerzbank Research, said in a report that the market is paying attention to Fed Chairman Powell's views on the latest low inflation data and weak economic activity data. Powell will testify in the Senate and may need to answer whether recent macro data gives him enough confidence to consider the first rate cut in the near future. According to Refinitiv data, the market expects the probability of the first rate cut in September to be about 80%.