#美联储货币政策预期# Closely follow Fed Chairman Powell's upcoming speech at the Jackson Hole annual meeting. The timing of this speech is sensitive, with the market expecting a 25 basis point rate cut in September. Inflation and employment data both indicate pressure on the economy, compounded by Trump's constant pressure, making Powell's statement crucial. However, this chairman's term ends next year, and the successor is also a point of interest. At such a critical moment, it is advised to operate cautiously and closely monitor the speech content and market reaction. Perhaps it would be wise to pre-position some defensive assets while retaining enough cash to address potential fluctuations. After all, practical experience tells us that markets often experience significant turbulence before and after such important events.