On July 1, Federal Reserve Chairman Walsh stated that the rate of change in the improvement of artificial intelligence models is exponential. The United States may emerge as the biggest winner in the field of artificial intelligence. This is not a zero-sum game. Currently, AI companies are investing in the future, with the expectation that the supply side will expand. The U.S. is not afraid of productivity-driven economic growth. We are still in the first or second inning of this transformation. There are significant questions regarding the timing of AI's impact on employment. Additionally, Walsh emphasized the need to achieve success in both employment and price stability. The labor market is stable, and economic demand is strong. Inflation expectations have decreased over the past four weeks. We are seeing prices that are too high. We will achieve price stability. There may be news next week regarding the appointment of heads of various working groups. In recent weeks, both inflation expectations and inflation risks have declined; he reiterated that the Federal Reserve is committed to bringing the inflation rate down to the target level of 2%. 'In the initial weeks of this period, inflation expectations have receded, and inflation risks have decreased as well,' Walsh said. 'If households, businesses, or financial markets believe that the Federal Reserve will be complacent about inflation above the 2% target, then they will be disappointed: we will ensure price stability in the United States.' (Jin Shi)