Recently, the financial market sentiment has shown significant fluctuation, mainly influenced by the latest speech of Fed Chairman Powell. The effect of this speech is similar to that during the previous CPI data revision and the release of non-farm employment data, triggering market speculation about the future direction of monetary policy.

Currently, data from the Chicago Mercantile Exchange (CME) shows that the market's expectation probability for a rate cut by the Fed has rapidly risen from 71% to 85%, and then further climbed to 91%. This optimistic sentiment may persist in the short term, but considering that there is still about a month until the Federal Open Market Committee (FOMC) meeting on September 18, market expectations management will continue.

It is worth noting that various news that has emerged in recent days seems to serve the purpose of managing market expectations. This practice is not uncommon in financial markets and aims to avoid severe fluctuations in the market. However, as the consistency of interest rate cut expectations has once again been heightened, the Fed may take some measures in the coming month to adjust market expectations to ensure the flexibility and effectiveness of its policies.

Investors and analysts need to closely monitor future economic data and official speeches, as these factors may affect market sentiment and policy expectations. At the same time, it is important to be wary of the risks posed by excessive optimism and to maintain a rational and cautious investment attitude.