According to Odaily Planet Daily, Michael Brown, senior research strategist at Pepperstone, stated that the weaker-than-expected US PPI data had no impact on the Federal Open Market Committee (FOMC) decision, and a 25 basis point rate cut next Wednesday is a foregone conclusion. He added that money market pricing suggests a small probability of a 50 basis point rate cut, and this expectation could be further strengthened if the CPI data is also weak. However, given the upside price risks posed by tariffs and the uncertainty surrounding the degree of tightening in the current policy stance, the Fed remains on track to restart its easing cycle at its September meeting, albeit at a more modest pace. (Jinshi)