机构：美联储“通胀担忧派”只会在8月非农再次疲软情况下支持降息

Core Viewpoint - The U.S. job growth average over the past three months is only 35,000, leading to concerns about the Federal Reserve's credibility and potential for an "insurance rate cut" if the August non-farm data, to be released on September 5, shows further weakness [1] Group 1 - The Federal Reserve decision-makers, particularly those worried about core PCE deviating from the 2% target, may support a rate cut if the upcoming employment data is weak [1] - The core PCE is expected to exceed the target by 100 basis points, making a rate cut in September a challenging decision under any circumstances [1] - There is uncertainty regarding whether the effects of tariffs will gradually become apparent [1]