[U.S. Stocks Post Overall Gains in August, Concerns Over Fed Independence Yet to Emerge] U.S. stocks performed strongly overall in August. Although artificial intelligence-related stocks faced sell-offs ahead of the long weekend at the end of the month, this did not prevent the major indexes from posting monthly gains. The S&P 500 Index rose 1.9% this month, the Nasdaq Index gained 1.6%, and the Dow Jones Index recorded an impressive 3.2% increase. Weak economic data and the mild impact of tariffs on prices have bolstered market expectations that the Federal Reserve will cut interest rates at next month’s meeting. Meanwhile, Trump’s continued pressure on the Federal Reserve to pursue low-interest-rate policies has heightened market anticipation for further rate cuts. However, economists have warned that if the Federal Reserve is overly influenced by the White House, it could lead to excessive rate cuts and ultimately drive up inflation. Nevertheless, the stock market appears to view this potential risk as a concern for the future, with no significant impact on current market sentiment.