Tonight's speech by Powell is likely to be a statement of 'precise balance': it will emphasize that policy decisions rely on data, finding the right pivot between risks of inflation and economic growth, without giving the market a clear signal of 'an inevitable rate cut in September' that could trigger a dovish frenzy, and it is also unlikely to use a hardline stance to completely shatter the market's expectations for a rate cut (that is, to avoid being overly hawkish).

Its core logic may be to leave enough policy flexibility and options for the Federal Reserve before the September meeting. For investors, this means they need to prepare in advance to cope with potential market volatility, while also focusing on capturing the subtle signals in the speech regarding the Federal Reserve's assessment of the economic outlook and adjustments to the policy framework.

After tonight's speech, the market's focus will quickly shift to the August employment and inflation data to be released in the coming weeks—these data may truly be the 'key leverage' influencing the outcome of the September meeting. #BNB创新高 #名人MEME热潮 #杰克逊霍尔会议 $BTC $XRP $BNB