Powell said that a rate cut is coming?

Tonight Powell talked about a crucial interest rate decision point:

Calling the labor market "very strong", there are signs that the labor market is gradually cooling and rebalancing, partly due to an increase in the labor supply caused by an increase in the number of immigrants.

He also said that the tightness of the labor market is about the same as before the outbreak of the epidemic in 2019. Powell has said in recent weeks that the Fed may cut interest rates if the labor market is unexpectedly weak.

So tomorrow night is very critical and directly affects further interest rate news