According to Odaily Planet Daily, Cathay Securities and Haitong Securities released a research report stating that Federal Reserve Chairman Powell's speech at the 2025 Jackson Hole Global Central Bank Annual Meeting showed a dovish signal, providing guidance for a September interest rate cut. The report pointed out that Powell believes that inflation risks are rising and that the revision of the US monetary policy framework will make policy more flexible. In the specific analysis, the report mentioned Powell's reassessment of the US labor market and the increase in employment risks, pointing out that the downward risk of employment in the short term is relatively large and monetary policy may face a shift. Cathay Securities and Haitong Securities expects a 25 basis point interest rate cut in September, with a maximum of two interest rate cuts throughout the year, for a total of approximately 50 basis points. The report emphasized that the rate cut will not be too fast, mainly for precautionary reasons. (Zhitong Finance)