Both times were similar to the last Jackson Hole annual meeting; although the possibility of interest rate cuts has increased, the cost is an economic downturn. The market tends to be excited at first and then calms down, and the same goes for the U.S. stock market, where the impact of the economy will weigh more heavily.

Although bad data can be treated as good data in a "funeral turned into a wedding" manner, bad data is still bad data. Economic issues are likely pointing towards a recession, and if it occurs, it will be the "final drop." If it doesn't happen, it is highly probable that there will be a gradual decline.

Therefore, economic issues will be more serious than the interest rate cuts themselves. To put it simply, interest rate cuts are not always beneficial; they must be considered in conjunction with the economy. If the cuts are due to concerns about the economy, they may not be good news.

This article is sponsored by #Bitget | @Bitget_zh

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