#美国经济指标# Looking back in history, the Fed's rate cuts have always been accompanied by significant market fluctuations. This time is no exception. From the latest employment data, there are already clear signs of weakness in the labor market, and the probability of a rate cut in September has surged. However, we need to view this expectation with caution. After all, inflationary pressures still exist, and the Fed has repeatedly emphasized the need to be "data-driven." Historically, the market tends to overinterpret single data points while ignoring other important indicators. Therefore, when making investment decisions, we should consider multiple factors comprehensively, rather than blindly following market sentiment. The economic data trends in the coming months will be crucial, and we need to closely follow changes in core indicators such as employment, inflation, and GDP. At the same time, we must be alert; if the economy does indeed fall into recession, rate cuts may not be able to reverse the downturn. Investors should prepare for risk management in advance and appropriately adjust asset allocations to cope with potential market turmoil.