The Labor Bureau still has too many programs At the end of July, non farm employment significantly decreased from 147000 to 14000, leading many to question whether tariffs have worsened the economy Tonight's PPI actual 3.3%>expected 2.5%, hurry up and take a look back I'm not joking The CPI and PPI this time actually reflect the strong recovery of the service industry, so the core PCE expectation at the end of the month will be at a high level. On a trading level, this data directly indicates that the end of August will be a highly volatile trading time: 1) CPI+PPI leads to high expectations for PCE at the end of the month 2) Last time, the non farm payroll data was very poor (mainly government employment). We need to test whether it is really weak or fake weak at the end of this month, because the recovery of the service industry is likely to make up for the weak government employment 3) On August 27th, there will be the Jackson Hole Conference. Faced with the combination of high inflation and weak employment, which is the main contradiction, the Federal Reserve will provide more guidance (currently the Federal Reserve tends to resist inflation)