On July 9th local time, Federal Reserve Chairman Powell attended a hearing of the Senate Banking Committee, delivering testimony on semi annual monetary policy. At the meeting, Powell reiterated that the Federal Reserve needs more data support to decide when to start cutting interest rates, while warning that there are risks to cutting rates too early, too fast, too late, or too little& amp;quot; We see some easing in inflation, but it is still above our target level& amp;quot; Powell stated in his prepared testimony; quot; If economic data continues to improve and shows that inflation is approaching our target, then it is appropriate to start lowering interest rates at some point this year& amp;quot; However, Powell also emphasized that there is still uncertainty in the economic outlook and that future data needs to be closely monitored. USA; quot; No longer an overheated economy; quot;， The job market has cooled down from the extreme situation during the pandemic and has returned to its pre pandemic state in many aspects.