At the recent Jackson Hole Monetary Policy Symposium, remarks made by Federal Reserve Chairman Powell sparked in-depth discussions on the direction of monetary policy. Powell indicated that the primary task has shifted from combating inflation to protecting employment, highlighting the importance of the labor market. Notably, he did not use the term 'gradual' to describe the pace of future interest rate cuts, which was interpreted by the market as an increased likelihood of rapid rate cuts. According to the latest market data, traders generally predict that the Fed will cut rates by a total of one percentage point this year. Specifically, they expect one cut of 50 basis points at one of the next three meetings. This expectation reflects a deep understanding and reaction of the market to the current economic situation and the direction of Fed policies.