何时降息？特朗普再度炮轰鲍威尔

Group 1 - The Jackson Hole central bank conference is set to begin, with a focus on Federal Reserve Chairman Powell's final speech, which is expected to be dovish amid rising market expectations for interest rate cuts [3][5] - Recent weak U.S. employment data has led to increased market bets on a 25 basis point rate cut in September, with expectations for at least one more cut by the end of the year [3][5] - The two-year U.S. Treasury yield has seen the largest decline, reflecting the market's sensitivity to interest rate changes [3] Group 2 - Former President Trump has publicly criticized Powell, suggesting that his policies are harming the real estate sector and calling for significant rate cuts [5][6] - The U.S. Treasury Secretary has indicated that rate cuts could help the struggling real estate market, which has been facing low sales and new construction [6] - The Dow Jones U.S. Home Builders Select Index has risen above its 200-day and 50-day moving averages, signaling a technical uptrend in response to rate cut expectations [6] Group 3 - Market analysts note that sectors traditionally benefiting from rate cuts have shown strong performance, as investors anticipate a return to a rate-cutting cycle by the Federal Reserve [7] - The Federal Reserve's current monetary policy framework, established in 2012, is under review, with potential changes expected to be part of Powell's legacy after his term ends in May 2024 [7][8] - There is speculation that the Federal Reserve may abandon the "average inflation targeting" framework, which some believe contributed to misjudgments regarding inflation during the pandemic [8]