#鲍威尔发言 Powell's Congressional Testimony: The Federal Reserve Maintains a Hawkish Stance

Federal Reserve Chairman Powell clearly stated during the July congressional hearing that combating inflation remains the top priority. He pointed out that the core PCE price index remains as high as 4.1%, well above the 2% target level, indicating that interest rates may remain elevated for a longer period. Powell specifically emphasized the risk of an overheating labor market, noting that hourly wage growth remains at an unsustainable level of 5.2%. The market interpreted his remarks as a strong signal for a 25 basis point rate hike in September, leading to a drop of over 2% in the three major U.S. stock indexes that day, and the dollar index rising to a year-to-date high of 105.3.