Global stock markets fell, let's see how Fed officials reassured the market: Chicago Fed President Goolsbee said that it is not the Fed's job to respond to one month's employment data, and the Fed's policy mission has nothing to do with the stock market. When asked about the emergency rate cut, Goolsbee said that options including rate hikes and rate cuts have been on the table;

San Francisco Fed President Daly pointed out that she is open to a September rate cut, and has not seen employment deterioration. The July employment report reflects temporary layoffs and hurricanes. If you only focus on one point of data, it will be easy to make mistakes.

According to the latest data from CME's "Fed Watch", the probability of the Fed cutting interest rates by 50 basis points in September 2024 is 83%