Golden Finance reports that Federal Reserve Chairman Powell stated that the constantly 'changing' economic risks have provided the Federal Reserve with more substantial reasons to cut interest rates. This statement indicates that Powell has aligned himself with the 'dovish' camp of the Federal Open Market Committee responsible for setting interest rates, and also signals that he may support a 25 basis point rate cut at the Fed's next meeting in September. Although Powell acknowledged that the government's trade war has had a 'clear and visible' impact on consumer prices, he suggested that this impact is unlikely to persist and may just be a one-time shock that the central bank can ignore. He stated, 'Given that the labor market is not particularly tight and faces increasing downside risks, such a result (sustained rising inflation) seems unlikely to occur.' He also added, 'Inflation faces upside risks while employment faces downside risks, which is quite a challenging situation.' (Jinshi)