全球央行年会即将开锣！鲍威尔能否为降息豪赌“盖章”？

Group 1 - The market is almost certain that the Federal Reserve will cut interest rates by 25 basis points next month, with at least one more cut expected by the end of the year [1][3] - Powell's upcoming speech at the Jackson Hole conference is anticipated to be a pivotal moment for the bond market, potentially influencing future monetary policy [1][4] - Despite recent strong inflation data, traders believe that a weak job market has paved the way for a dovish shift from the Fed [1][4] Group 2 - The yield curve has steepened, with the two-year yield remaining around 3.75%, reflecting a downward trend in yields across various maturities [3] - Historical context from previous Jackson Hole meetings suggests that Powell's statements can significantly impact market expectations regarding interest rate changes [4] - There is a notable pressure from President Trump and his administration for the Fed to lower rates, which has contributed to increased bets on rate cuts [4][5] Group 3 - The focus will shift to the August non-farm payroll data to be released on September 5, which will be crucial in determining the rate cut path [5] - Investors express skepticism about the likelihood of a substantial 50 basis point cut, given the persistent inflation above the Fed's target [5] - The potential for aggressive rate cuts raises concerns about ignoring inflation risks and the implications for the job market [5]