Recent U.S. economic data has been mixed, triggering ongoing fluctuations in market expectations for Fed interest rate cuts. The July Consumer Price Index (CPI) and Producer Price Index (PPI) reports sent different signals, but both indicated that inflation in the services sector remains stubborn, with the PPI posting its highest month-over-month increase in three years. This data reflects the complexity of the current economic situation and poses challenges for the Fed's decision-making.

There is a significant division within the Fed regarding whether to cut interest rates in September, which further increases uncertainty in the market. In the upcoming week, financial markets will closely monitor the following important events:

1. On Wednesday, Fed Governor Waller will give a speech at a blockchain seminar in Wyoming, which may reveal the Fed's stance on emerging technologies.

2. On Thursday, the Fed will release the minutes of the monetary policy meeting, which will provide the market with more clues about the decision-makers' thoughts. On the same day, Atlanta Fed President Bostic will speak on the economic outlook, and as a voting member of the Federal Open Market Committee (FOMC) in 2027, his views are of significant reference value.

3. On Thursday, the number of initial jobless claims in the U.S. for the week ending August 16, the Philadelphia Fed Manufacturing Index for August, and the preliminary values of the S&P Global Manufacturing and Services Purchasing Managers' Index (PMI) for August will be released. This data will provide important basis for assessing the health of the economy.

4. On Friday, the market focus will be on the Jackson Hole Global Central Bank Annual Meeting, where Fed Chairman Powell's speech is highly anticipated, as his remarks may provide key guidance for the future direction of monetary policy.

At the same time, notable trends have emerged in the political field. Reports indicate that the White House is developing a 'Corporate Loyalty Index' to rank 553 American companies and industry associations based on their level of support for a particular piece of legislation. This move has sparked discussions about the relationship between government and business and reflects the current complex political and economic environment.

Overall, the coming week will be a critical period where economic data, central bank policies, and political factors interact with each other. Market participants need to closely monitor information from all aspects to better grasp the direction of the economy and policy trends.