Tonight! Inflation and labor market both cool down, and the Federal Reserve is expected to continue to "hold its fire", but FOMC policy statements and Powell's speech may "warm up" for a rate cut in September. On Thursday, August 1st at 2:00 am Beijing time, the Federal Open Market Committee (FOMC) of the Federal Reserve will end its fifth interest rate meeting of the year and announce its interest rate decision. Currently, the market generally expects the FOMC to maintain interest rates at a 23 year high of 5.25% to 5.5% unchanged. The focus of market attention is more on the FOMC policy statement and whether Federal Reserve Chairman Powell will give a clear indication of a rate cut for the next meeting in mid September.