Macro outlook for next week: New tariff red line triggers' final battle ' The following are the key points that the market will focus on in the new week: Tuesday 21:45, US July S&P Global Services PMI Final Value On Thursday at 03:10, 2022, FOMC Chairman and San Francisco Fed President Daley delivered a speech Thursday 20:30, initial jobless claims for the week ending August 2nd in the United States Thursday 22:00, 2027 FOMC Voting Committee and Atlanta Fed Chairman Bostic Attend Fireside Talks Thursday 23:00, July New York Fed 1-Year Inflation Expectation On Friday at 22:20, the 25th FOMC vote committee and St. Louis Fed Chairman, Moses Lem, delivered a speech The new tariffs will not take effect until August 7th local time, instead of the previous August 1st, which gives countries another window to try to lower tariffs through negotiations. In addition, although two board members voted in favor of a 25 basis point rate cut, the overall tone of the statement and Powell's comments was very neutral, indicating that although the Federal Reserve has opened the door for a September rate cut, it has not ruled out the possibility of a rate hike if tariffs increase and labor market tightening lead to further inflation.