PANews reported on August 25 that according to Jinshi, CITIC Securities released a research report pointing out that the speech of Federal Reserve Chairman Powell at the 2024 Jackson Hole Global Central Bank Annual Meeting had a clear "turning point" implication, saying that "the time for policy adjustment has come", and almost "officially announced" a rate cut in September. Powell's description of the economic situation still tends to be a "soft landing", and believes that the current job market is not as tight as in 2019. After Powell's speech, the trading logic characteristics of the "soft landing" in the US stock market were obvious. At this point in time, CITIC Securities maintains its previous judgment that the Federal Reserve is expected to cut interest rates by 25bps for the first time at the September FOMC meeting, and there is room for 50-75bps of interest rate cuts throughout the year. It is necessary to be vigilant against the risk of asset price adjustments that may be brought about by the market's over-trading of the Federal Reserve's interest rate cuts.