According to Bijie.com, on August 2nd, Federal Reserve official and Powell ally Williams stated, "The labor market conditions I've observed over the past year can be described as 'modest and gradual cooling,' but overall they remain solid." Although the unemployment rate rose only slightly to 4.2% in July (from 4.1% in June), the relatively weak non-farm payroll data provided room for Powell to push for a consensus rate cut. Williams pointed out that the significant downward revisions to job growth in May and June were the real focus of the report. He said, "This information is crucial for understanding the direction of labor supply and demand, as well as the cooling trend in labor market momentum." Regarding the possibility of a September rate cut, Williams remained cautious, not endorsing the market's expectations of a rate cut, which had once reached 80.0%. He said, "The challenges facing market participants are the same as those we face as policymakers. I think the market's reaction to the signals is understandable." Williams expects US economic growth to slow to around 1.0% this year, but believes the economy is expected to recover in 2026.