Recently, Mary Daly, the President of the San Francisco Fed, delivered a thought-provoking speech. She stated that the two planned rate cuts this year seem moderate, but the subtle attitude conveyed in her words has sparked widespread attention and interpretation in the market.

Daly expressed approval of the interest rate cut decision in July, but also hinted at the need for more caution in the future. This seemingly contradictory statement reflects the complexity of the current economic situation and the challenges faced by the central bank in formulating monetary policy.

Currently, the U.S. economy is facing inflationary pressures that have not completely subsided, which forces the Fed to weigh multiple factors when making decisions. Daly's remarks seem to suggest that while the rate cut in July was appropriate, future policy directions may need to be more cautious.

Central bank officials often express themselves in a nuanced and flexible manner, providing policymakers with ample room for maneuver. Daly's remarks this time neither explicitly committed to further rate cuts nor completely ruled out such a possibility, instead leaving flexibility for future decisions.

The market still has differing expectations regarding the Fed's next move. Some analysts anticipate further interest rate cuts in September, while others believe the Fed may choose to wait and see. Daly's latest remarks will undoubtedly bring new thoughts and discussions to the market.

For ordinary investors and the public, there is no need to overinterpret every word spoken by central bank officials. Ultimately, the Fed's decisions will be based on comprehensive economic data and long-term strategic considerations. We should focus more on overall economic trends rather than excessively speculating on short-term policy directions.