QCP Capital: US employment data may face a significant downward revision, the market is paying attention to Powell's speech at Jackson Hole

Odaily News QCP Capital released its latest report, saying that Wall Street rumors that the US employment data may face a downward revision of at least 600,000 people have triggered a reassessment of the Fed's policy stance. The Fed had previously postponed its interest rate cut plan based on the strong job market and economic performance. The industry expects Fed Chairman Powell to express his views on this issue at the upcoming Jackson Hole annual meeting. However, with a month to go before the September Fed meeting, Powell may not make a clear commitment. If the employment data is significantly revised down or Powell's statement is dovish, it may reverse the stock market's gains in the past two weeks and push Bitcoin and Ethereum below support.