Data showed that the annual growth rate of the PCE price index in July was 2.5%, slightly lower than market expectations; the monthly growth rate was 0.2%, in line with market expectations.

JPMorgan Chase & Co. predicts the revision will be around 360,000, while Goldman Sachs thinks it could be as high as 1 million.

The number of new applications for unemployment benefits in the United States fell sharply, marking the biggest drop in a year and pointing to a recovery in the job market.

The San Francisco Federal Reserve Bank estimates that after adjusting for these effects, employment growth should be between 130,000 and 150,000, significantly higher than the unadjusted 114,000.

No rate cut has yet arrived.

Originally, under the stimulus of OPEC+ production cuts and expectations of US interest rate cuts, crude oil had risen slightly since the beginning of the year.

Stabilizing prices and preserving jobs are the Fed's two main goals, and weak employment progress will boost confidence in the Fed's rate cut.

On July 16, most Asian stock markets remained buoyed by gains on Wall Street and expectations of a September rate cut by the Federal Reserve.

Yesterday, influenced by the dovish expectations of the Federal Reserve, gold surged by more than $40, setting a historical record, closing at $2468.57 per ounce.

Powell mentioned that while first-quarter economic data did not boost the Fed's confidence that inflation had fallen back to its 2 percent target, three second-quarter inflation reports, including last week's data, had boosted that confidence to some extent.

With housing inflation accounting for about one-third of the overall CPI statistics, the slowdown in this sub-item is pivotal to the continued downward trend in U.S. inflation.

Soldiers and horses not moving, food and grass first.Of the $39 billion of 10-year Treasuries auctioned by the Treasury on Wednesday, overall auction results were solid and strong。

But he also pointedly noted that "rising inflation is not the only risk we face."A rate cut "too late or too little" could also "unduly weaken economic activity and employment," he said.

The market's expectations are reasonable.Looking at recent U.S. data, most are weakening.Friday's non-farm payrolls data was cold, employment rose, and most leading indicators of the labor market are cooling.

It is expected that the U.S. seasonally adjusted non-farm employment for June will increase by 190,000, significantly lower than the previous figure of 272,000.

Markets expect weak U.S. economic data to drive the pace of Fed rate cuts, while lower rates may boost oil price bulls.

Some participants stressed the need for patience before cutting interest rates.Some participants, on the other hand, said further rate hikes may be needed if inflation makes a comeback.

Powell still declined to say anything about the time frame for a rate cut.

In the question-and-answer session after the speech, Bowman's speech was even more shocking.

It is worth noting that the timing of the two officials' speeches is also "just right": one hour before the opening of U.S. stocks, one hour after the opening of U.S. stocks, are active trading in global markets.