Yesterday, the US employment data was significantly lowered as expected, but BTC did not react to it at the beginning of the US market, indicating that the market has already digested this information. The current focus is still on the speech delivered by Federal Reserve Chairman Powell at the global central bank conference held in Jackson Hole, Wyoming on Friday. Economists believe that the theme word this time may be "gradual", and Powell may only give the green light for future interest rate cuts in a relatively cautious manner and in a general way. According to Jinshi, Carl Tannenbaum, chief economist of Northern Trust, believes that Powell will convey another message to investors, telling them "not to overreact to the data." The non-farm report earlier this month shook the global financial markets, but he believes that "the reaction to the employment report is one of the worst market overreactions I have seen in a long time. The market rushed to accept the idea that the economy is in recession, and this is just based on one data point. They are just looking for a narrative, and then they create one based on a job data." For Powell, the Fed is currently in the final stage of fighting inflation against the backdrop of the US election. To reduce inflation and complete a soft landing without a recession, the next few months will be crucial, so he will be extremely cautious
