Federal Reserve Chair Jerome Powell said during a press conference that there is no indication in their forecasts that the Fed is acting hastily. If appropriate, the Fed can accelerate or slow down, or even pause, interest rate cuts. If the economy remains robust, we can slow the pace of rate cuts. Likewise, if the labor market worsens, we can also respond. Our projections are not plans or decisions; we will adjust policy as needed. Taking risks into account, we are lowering rates by 50 basis points today, and this adjustment will help maintain the strength of the economy and labor market. Powell also said that if the Fed had seen the non-farm payrolls report released days after the July decision, they might have cut interest rates for the first time at the July meeting. The July non-farm payrolls report showed weakness in the U.S. labor market. Powell noted that the Fed remains firmly focused on its dual mandate objectives. The U.S. economy is generally strong, and the labor market has cooled from its previous overheating state. Our decision today reflects growing confidence that the strength of the labor market can be sustained, and the Fed is committed to maintaining economic strength. Unemployment has risen but remains low. The labor market environment continues to cool; the labor market is not the source of high inflationary pressure, and downside risks to employment have increased.