Recently, the financial markets have shown signals worth noting. The latest speech by the Federal Reserve Chairman not only hinted at a shift in policy direction but also adjusted the views on employment and inflation. Particularly noteworthy is his increased focus on whether there will be a sudden decline in the job market, which could in turn affect inflation risks.

This statement implies that the market logic may undergo a significant shift. If a rate cut is confirmed in September, the market focus is likely to shift from recessionary rate cuts to preventive rate cuts. This change is reminiscent of the policy style during the Greenspan era, which sharply contrasts with the current chairman's previous cautious and lagging approach.

In this new situation, the capital market will pay closer attention to changes in fundamental risks. Investors need to adjust their strategies in a timely manner to prepare for potential market fluctuations. It is especially important that we remain vigilant about changes in key economic data such as employment, as these changes may trigger a shift in market trading logic.

It is worth mentioning that from late August to early September, several important economic indicators and events will emerge one after another. Among them, the non-farm payroll data will have the most significant impact, followed by the earnings report of a certain tech giant, and then the inflation indicators such as PCE and CPI. These data will provide important references for us to interpret market trends.

Overall, the market style may undergo significant changes in the coming month. Investors need to remain vigilant and flexibly adjust their investment strategies to adapt to this new market environment, which may be dominated by preventive interest rate cuts.