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Jinse Finance reported that Federal Reserve's Harker stated that, given the inflation situation, it is not clear whether the Fed should cut rates again; the economy is expected to accelerate its recovery next year; he does not believe there will be a significant decline in the labor market; this year's inflation rate will exceed the target (2%) by one percentage point. He also stated that the unemployment rate is expected to rise slightly this year and then decline again; the Fed is facing the dual mandate pressure of employment and inflation; monetary policy is, at best, only marginally restrictive; inflation is expected to remain high until 2026; the job market may be more fragile than the data suggests; financial conditions are quite loose; it will take two to three years for inflation to return to 2%.

Jinse Finance reported that U.S. stocks opened lower and continued to decline, with the Nasdaq falling more than 2%. As of now, the Nasdaq is down 2.05%, the S&P 500 index is down 1.26%, and the Dow Jones Industrial Average is down 1.03%. Tesla is down more than 5%, while Nvidia, Amazon, and Intel are down more than 3%.