#美国经济数据# Looking back, the decisions of the Fed have always stirred market nerves. How will this September meeting unfold? Powell's cautious attitude reminds me of the period leading up to the 2008 financial crisis. At that time, the market was also filled with uncertainty, with every piece of data being scrutinized. Now, the labor market shows signs of downside risk, and the non-farm payroll data is expected to weaken, which are all warning signals.

Historically, the Fed often acts slowly at economic turning points. This was the case during the burst of the internet bubble in 2000 and the early stages of the subprime crisis in 2007. They seem to be more cautious now, but excessive caution may also lead to missing the best opportunity.

The key is still to look at the upcoming employment report. If the data is far below expectations, it may accelerate the Fed's actions. On the contrary, if the data is strong, the hope for interest rate cuts within the year may be slim. In any case, this economic cycle game will continue. We, who have experienced many ups and downs, should remain calm and observe the changes. After all, history always repeats itself on different stages.