Recent news shows that the Federal Open Market Committee (FOMC) of the Fed is about to hold an important meeting. The meeting statement is expected to pass with a ratio of 9-2, with Bowman and Waller possibly holding opposing views.

The statement from the meeting may simplify the expression of uncertainty regarding the economic outlook while acknowledging that economic growth has slowed in the first half of the year. It is expected that the scale of balance sheet reduction (QT) will remain unchanged.

The market is highly focused on Chairman Powell's speech at the press conference, particularly regarding his views on interest rate trends. He may discuss the "two rate cuts" expectation implied in the June dot plot and could provide some clues for a potential rate cut in September. Powell is expected to continue emphasizing the importance of economic data, maintaining his consistent data dependence and communication style of making decisions at consecutive meetings.

On inflation and tariff issues, Powell may maintain a cautious stance, reiterating his commitment to price stability. If he emphasizes the upward risks of tariffs on inflation, it could be interpreted by the market as a more hawkish position than expected.

In the face of external pressure, Powell is unlikely to respond directly, but will instead reaffirm his commitment to maintaining independence and professionalism during his tenure.

Overall, this FOMC meeting will provide important policy guidance for the market, and investors should pay close attention to the meeting results and Powell's speech to assess the future direction of the Fed's monetary policy.