CITIC Securities: Market awaits Powell's speech to guide expectations of interest rate cuts According to a research report by CITIC Securities, there were signs of interest rate cuts in the US stock market after the release of the CPI in July, but the unexpected PPI data in July dampened market expectations. If Federal Reserve Chairman Powell sends a dovish signal at the global central bank annual meeting and hints at a rate cut in September, the relevant trading mainline may be redefined, and interest rate sensitive sectors may experience another upward trend.