According to online reports, Huatai Securities Research reported that the Federal Reserve will announce the decision of its July interest-rate meeting in the early morning of July 31 (Thursday), Beijing time. Although Trump has repeatedly pressured Powell to cut interest rates since the June meeting, some members within the Federal Reserve have also requested interest rates in July. However, considering that the overall job market exceeded expectations and tariffs will gradually be transmitted to inflation in the future, it is expected that the Federal Reserve will remain inactive at its July meeting; Looking forward, Huatai Securities believes that the subsequent decision to cut interest rates depends on economic data from July to August, and maintaining a weakening job market will prompt the Federal Reserve to cut interest rates twice from September to December.