On the Fed side: Collins said that it may take longer than expected to reach an inflation level of 2%. At present, there is no phenomenon of rapid decline in inflation. It is expected that demand will eventually slow down, but there is uncertainty in the timing.

Fed Kashkari believes that if inflation slows again or the job market weakens significantly, interest rates may be cut.

Fed Williams: Seeing that employment growth has slowed down, the data may fluctuate up and down in an unpredictable direction. The decision to cut interest rates will still be made based on the data, and the interest rate will eventually be cut.

At the interest rate meeting that ended earlier, Powell said that the Fed is unlikely to raise interest rates. His speech was neutral and dovish, and the cycle is irreversible.

For the Fed, they may be waiting for an opportunity to cut interest rates, because the banking industry is the most affected by high interest rates for a long time, which will eventually lead to financial turmoil. Recently, Ming Ge has been emphasizing the importance of next week's CPI data, which may be a turning point for monetary policy. Once the CPI falls. It will pull the Fed back on the track of cutting interest rates. Previously, due to negative data, the time for cutting interest rates was delayed again and again. Will the interest rate cut happen in September? The CPI at the beginning of each month is needed as a basis. The market currently expects interest rate cuts to begin in September. Let us wait patiently for next week’s CPI data!