Tonight, the global financial markets will witness two important events that may have a profound impact on market trends.

First, the U.S. July core PCE data is about to be released, which is a key indicator for measuring inflation. This data will test the dovish remarks made by Federal Reserve Chairman Powell earlier. Powell stated at the Jackson Hole symposium that despite the risk of rising inflation, the Federal Reserve may still lower interest rates in the coming months. However, he also emphasized that monetary policy will be adjusted flexibly based on the data. If the inflation data is higher than expected, it may weaken the possibility of a rate cut in September; conversely, if the data meets or falls below expectations, it will support Powell's rate cut plan and boost market confidence.

Meanwhile, a U.S. judge will hold a hearing on the case of Federal Reserve Governor Cook suing Trump. Trump previously attempted to fire Cook on the grounds of mortgage fraud, but Cook countered that Trump had no right to do so and filed a lawsuit seeking a restraining order to prevent his dismissal. Since taking office in 2022, Cook has held significant power in financial regulation. This "dismissal controversy" has attracted widespread attention in the financial world, with concerns that it could affect the internal stability and regulatory fairness of the Federal Reserve. The outcome of the hearing and whether Cook can retain his position remain uncertain, adding new uncertainty to the market.

These two matters seem independent, but are actually closely connected: personnel changes within the Federal Reserve may affect the coherence of its policies, while inflation data directly influences the direction of monetary policy. Tonight, these two forces will work together in the market, and both investors and the general public interested in finance should pay close attention to the development of this 'financial drama.' The subsequent direction will have significant implications for the global financial market and is worth ongoing attention.