Mei Ri Jing Ji Xin Wen·2025-08-23 07:53Group 1 - Federal Reserve Chairman Jerome Powell signaled a strong likelihood of interest rate cuts during his speech at the Jackson Hole global central banking conference, indicating a shift back to a 2% inflation target and abandoning the controversial "Flexible Average Inflation Target" (FAIT) [2][4][11] - The U.S. stock market reacted positively, with the Dow Jones Industrial Average surging over 900 points, marking a historical high, while the Nasdaq and S&P 500 also recorded their largest single-day gains since May [3][7][8] - Powell acknowledged the challenges facing the Federal Reserve, highlighting the conflict between low inflation and a healthy labor market, and warned of rising unemployment risks as job growth slows [8][9] Group 2 - The Federal Reserve's policy framework has undergone significant changes, with Powell admitting that the previous FAIT strategy was ineffective in addressing the post-pandemic inflation surge [11][15] - The new framework emphasizes a return to a clear 2% inflation target and a balanced approach to policy adjustments based on data and risk assessments, rather than political pressures [9][12][19] - Powell's tenure has been marked by a "fiscal dominance" phenomenon, where government fiscal policies overshadow monetary policies, raising concerns about the independence of the Federal Reserve and the potential for a "debt death spiral" as described by Ray Dalio [16][17][19] Group 3 - The upcoming earnings report from Nvidia is highly anticipated, with analysts focusing on new product manufacturing yields and the overall growth of its data center business, which is expected to contribute significantly to revenue [33][36] - Nvidia's revenue for the second quarter is projected to reach $45.8 billion, reflecting a year-over-year growth of 52.4%, although the growth rate is slowing compared to previous quarters [36] - The demand for GPUs and computing power remains extremely high, as indicated by OpenAI's recent financial performance and the ongoing infrastructure expansion to meet this demand [37]