#美7月PPI年率高于预期# The U.S. Bureau of Labor Statistics recently released July's Producer Price Index (PPI) data, which significantly exceeded expectations, raising market concerns about inflation and adding uncertainty to the Fed's future rate cut decisions.

Specifically, the U.S. July PPI rose 0.9% month-on-month, a rise that far exceeded market expectations, marking the largest increase since June 2022. After the data was released, traders adjusted their expectations for a rate cut by the Fed in September, not only reducing bets on a rate cut in September but also abandoning expectations that the rate cut could reach 50 basis points.
At the same time, recent comments from Fed officials have further weakened the market's expectations for interest rate cuts. San Francisco Fed President Daly stated in an interview that she does not support a substantial rate cut of 50 basis points at the September meeting. St. Louis Fed President Bullard also indicated that the current economic conditions and data do not support a 50 basis point rate cut.