Tonight, the U.S. financial markets will welcome two major events, namely the release of the U.S. core PCE data for July and the hearing of The Federal Reserve Board of Governors Cook's lawsuit against Trump. Here are the relevant details:

U.S. Core PCE Data for July: At 20:30 tonight, the U.S. Core PCE data for July will be released. Previously, Fed Chairman Powell spoke at the Jackson Hole Global Central Bank Conference, hinting that the Fed may cut interest rates in the coming months. As a result, market expectations for a rate cut in September have risen to nearly 90%. Powell emphasized that monetary policy will be based on data assessment, and this July Core PCE data is the first major test of his "dovish" stance. If the data exceeds expectations, indicating strong inflation pressures, hopes for a rate cut after September may be dampened; if the data meets or falls below expectations, easing inflation pressures may support Powell's rate cut plans and solidify market expectations for a rate cut in September. However, specific figures for the July 2025 Core PCE data have not yet been obtained.

The Federal Reserve Board of Governors member Cook sues Trump hearing: A U.S. judge is scheduled to hold a hearing tonight at 10 PM regarding the lawsuit filed by the Federal Reserve Board of Governors member Cook against Trump. On August 25, local time, Trump fired Cook on the grounds of alleged mortgage fraud, and Cook filed a lawsuit against Trump on the 28th, claiming that Trump had no right to dismiss her. The lawsuit also accuses Trump of terminating her without notice or hearing, violating the due process rights granted to Cook by the U.S. Constitution. The outcome of this hearing is uncertain, and whether Cook will be dismissed adds variability to the financial markets.
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