Staying up late again tonight—The Jackson Hole annual meeting is coming! The Fed's top figure, Powell, will speak on Friday, which may become the focus of the market. #杰克逊霍尔会议

Some analysts believe he may hint at a more gradual rate-cutting strategy. Last week's CPI and PPI data showed that inflation is still stubbornly hovering above 3%.

Powell mentioned that the number of CPI components above 4% and below 2% is roughly the same, which is the first occurrence since the inflation peak in 2021-2022.

PGIM stated that they remain optimistic about their forecast, expecting the Fed to cut rates by a total of 100 basis points by next year, which is about 50 basis points lower than the market's general expectations.