ChainCatcher news, according to Jinshi reports, a research report from CITIC Securities indicates that Powell's dovish speech at the Jackson Hole annual meeting met expectations, and the Federal Reserve is expected to cut interest rates three times within the year, each by 25 basis points. The logic of the "rate cut trade" in the US stock market will be clarified again, similar to the market conditions in July 2024, with rate-sensitive Russell 2000, S&P 500 real estate, and Nasdaq biotechnology likely to rise again. It is expected that US Treasury yields and the US dollar index still have slight room for decline, and the expectation of rate cuts will boost global equity market risk appetite, but caution is needed regarding the potential negative impact of Russia-Ukraine agreements.