If the Jackson Hole meeting basically determined that the Federal Reserve is preparing to cut interest rates in September, then Friday's inflation data consolidated the scenario of cutting interest rates by 25 basis points rather than 50 basis points. The data performance is basically in line with expectations, and there is almost no change in yield. At the same time, the market is still betting that interest rates will be cut by a small margin next month. Traders still expect a sharp cut in interest rates in November or December, but if prices continue to gradually cool down without a decline greater than expected, then the market may reconsider this expectation.

If the Jackson Hole meeting basically determined that the Federal Reserve is preparing to cut interest rates in September, then Friday's inflation data consolidated the scenario of cutting interest rates by 25 basis points rather than 50 basis points. The data performance is basically in line with expectations, and there is almost no change in yield. At the same time, the market is still betting that interest rates will be cut by a small margin next month. Traders still expect a sharp cut in interest rates in November or December, but if prices continue to gradually cool down without a decline greater than expected, then the market may reconsider this expectation.