#美国通胀和降息预期# Latest data shows that inflationary pressures in the United States still exist, with July's PPI and service price index both exceeding expectations. This indicates that companies are adjusting pricing in response to tariff costs, which may have a lasting impact on future inflation. Although employment data is weak, it may be affected by immigration policies. Currently, market expectations for interest rate cuts have cooled, and the probability of a cut in September has decreased. I believe the Fed may remain cautious, continuing to monitor inflation trends and changes in the labor market, with a high likelihood of keeping interest rates unchanged in the short term. Investors need to closely follow subsequent economic data, especially CPI and employment reports, to assess inflation trends and labor market conditions.