美联储的戴利重申，很快将是重新调整政策的时候了。有趣的是，他们如何避免使用“暂时性”这个词。无论如何，美联储的戴利只是重申，她预计关税驱动的通货膨胀将是短暂的，因此赞成降低利率以帮助劳动力市场，在她看来，劳动力市场正在放缓。

Fed's Daly repeats that it will soon be time to recalibrate policy.It's funny how they avoid using the word "transitory". Anyway, Fed's Daly is just repeating that she expects the tariff-driven inflation to be short-lived and therefore favours lowering interest rates to help the labour market which in her view is slowing.

在地缘政治的不确定性中，美联储降息50个基点是否会将美元推至新低？。特朗普2.0时代为2025年的外汇世界带来了许多挑战和机遇。不要指望过山车很快就会减速。

Could a 50bps Fed Rate Cut Push the Dollar to New Lows Amid Geopolitical Uncertainty?.The age of Trump 2.0 has brought plenty of challenges and opportunities to the world of forex in 2025. Don't expect the rollercoaster to slow down any time soon.

达拉斯联邦储备银行下调7月份个人消费支出平均值+1.9%，而此前为+3.4%。1个月的年化利率非常不稳定，所以不要误以为通货膨胀正在下降。6个月和12个月的年化利率是衡量这一趋势的更好指标。

Dallas Fed Trimmed Mean PCE for July +1.9% vs +3.4% prior.The 1 month annualised rate is very volatile, so don't mistake that for inflation coming down. The 6 month and 12 month annualised rates are a better gauge of the trend.

法官今天没有对美联储理事丽莎·库克的解职作出裁决。法官要求有更多的时间来维持现状，同时考虑法律斗争的是非曲直。美联储今天在一份法庭文件中表示，它在诉讼中没有立场，但希望“迅速裁决”以消除“现有的不确定性”。

Judge did not rule on the dismissal of Fed Governor Lisa Cook today.The Judge asked more time to preserve the status quo while she considers the merits of the legal fight. The Fed today said in a court filing that it takes no position in the lawsuit but that it wants a "prompt ruling" to remove "the existing cloud of uncertainty".