Recently, financial markets have been closely monitoring the policy moves of the United States Federal Reserve System (the Fed). According to data from CME Group's 'FedWatch,' market expectations for the Fed to implement a rate cut at its September meeting have significantly increased. Specifically, the probability of a 25 basis point rate cut is as high as 69%, leading other rate cut options. Meanwhile, the expectation for a 50 basis point rate cut remains at 31%, indicating that the market is also considering the possibility of a more significant rate cut by the Fed. Furthermore, regarding the outlook for future monetary policy paths, the market believes there is a 26.1% probability of a cumulative 50 basis point rate cut by November, while the probabilities of a cumulative 75 basis point and 100 basis point rate cuts are 54.6% and 19.3%, respectively. These data reflect market concerns about the current economic situation and expectations for future policy adjustments, suggesting that the Fed may adopt a more accommodative monetary policy to address potential economic downturn risks.