Odaily News Fed Chairman Powell said the labor market remains strong, but considerable progress has been made in inflation, and the path of inflation decline is back on track. At the same time, Powell said that if the labor market unexpectedly weakens, this will also prompt us to take action. But he declined to comment on whether this means a rate cut in September. He said the Fed has the ability to take the time to make the right decision (rate cuts), although he is well aware of the risks of "acting too slowly and too late." (Jinshi)