[NYT] 通胀加剧， 美国经济增速放 缓

=E9=80=9A=E8=83=80=E5=8A=A0=E5=89=A7=EF=BC=8C=E7=BE=8E=E5=9B=BD=E7=BB=8F=E6=
=B5=8E=E5=A2=9E=E9=80=9F=E6=94=BE=E7=BC=93

TALMON=20JOSEPH=20SMITH

2026=E5=B9=B47=E6=9C=8831=E6=97=A5

The=20New=20York=20Times

=E7=BE=8E=E5=9B=BD=E7=BB=8F=E6=B5=8E=E5=9C=A8=E4=BB=8A=E5=B9=B4=E7=AC=AC=E4=
=BA=8C=E5=AD=A3=E5=BA=A6=E6=94=BE=E7=BC=93=EF=BC=8C=E6=8C=89=E5=B9=B4=E7=8E=
=87=E8=AE=A1=E7=AE=97=E4=BB=85=E5=A2=9E=E9=95=BF1.5%=EF=BC=8C=E8=BF=99=E4=
=B8=BB=E8=A6=81=E6=98=AF=E7=94=B1=E4=BA=8E=E4=BC=8A=E6=9C=97=E6=88=98=E4=BA=
=89=E6=89=B0=E4=B9=B1=E4=BA=86=E4=BB=B7=E6=A0=BC=E3=80=81=E4=BE=9B=E5=BA=94=
=E9=93=BE=E5=92=8C=E8=83=BD=E6=BA=90=E5=B8=82=E5=9C=BA=E3=80=82

=E6=B2=B9=E4=BB=B7=E5=B7=B2=E7=BB=8F=E4=BB=8E=E6=98=A5=E5=AD=A3=E7=9A=84=E9=
=AB=98=E7=82=B9=E5=9B=9E=E8=90=BD=EF=BC=8C=E4=BD=86=E6=B1=BD=E6=B2=B9=E5=8F=
=8A=E5=85=B6=E4=BB=96=E7=9F=B3=E6=B2=B9=E5=88=B6=E5=93=81=E4=BB=B7=E6=A0=BC=
=E4=B8=8A=E6=B6=A8=20=E2=81=B0=E6=89=80=E9=80=A0=E6=88=90=E7=9A=84=E6=8D=9F=
=E5=AE=B3=E4=BB=8D=E5=9C=A8=E5=86=B2=E5=87=BB=E5=AE=B6=E5=BA=AD=E5=92=8C=E4=
=BC=81=E4=B8=9A=E3=80=82=E6=8C=81=E7=BB=AD=E9=80=9A=E8=83=80=E4=BB=A5=E5=8F=
=8A=E5=9B=B4=E7=BB=95=E7=BE=8E=E8=81=94=E5=82=A8=E9=81=8F=E5=88=B6=E9=80=9A=
=E8=83=80=E8=AE=A1=E5=88=92=E7=9A=84=E4=B8=8D=E7=A1=AE=E5=AE=9A=E6=80=A7=20=
=C2=B9=E6=9C=AC=E5=91=A8=E6=8E=A8=E9=AB=98=E4=BA=86=E5=80=BA=E5=88=B8=E6=94=
=B6=E7=9B=8A=E7=8E=87=E3=80=82

=E5=AF=B9=E7=BE=8E=E5=9B=BD=E7=BB=8F=E6=B5=8E=E8=80=8C=E8=A8=80=EF=BC=8C=E8=
=BF=99=E6=97=A0=E7=96=91=E6=98=AF=E4=B8=80=E4=B8=AA=E5=85=85=E6=BB=A1=E4=B8=
=8D=E7=A1=AE=E5=AE=9A=E6=80=A7=E7=9A=84=E6=97=B6=E5=88=BB=E3=80=82=E5=B0=BD=
=E7=AE=A1=E7=BB=8F=E6=B5=8E=E6=8C=81=E7=BB=AD=E8=A1=A8=E7=8E=B0=E5=87=BA=E9=
=9F=A7=E6=80=A7=EF=BC=8C=E4=BD=86=E5=AE=83=E5=90=8C=E6=97=B6=E5=8F=97=E5=88=
=B0=E6=8C=81=E7=BB=AD=E9=80=9A=E8=83=80=E3=80=81=E4=B8=AD=E4=B8=9C=E7=A0=B4=
=E5=9D=8F=E6=80=A7=E6=88=98=E4=BA=89=E4=BB=A5=E5=8F=8A=E5=80=9F=E8=B4=B7=E6=
=88=90=E6=9C=AC=E5=8F=AF=E8=83=BD=E4=B8=8A=E5=8D=87=E7=9A=84=E5=A4=9A=E9=87=
=8D=E6=89=93=E5=87=BB=EF=BC=8C=E5=80=9F=E8=B4=B7=E6=88=90=E6=9C=AC=E4=B8=8A=
=E5=8D=87=E5=8F=AF=E8=83=BD=E5=89=8A=E5=BC=B1=E7=BB=8F=E6=B5=8E=E5=A2=9E=E9=
=95=BF=E5=8A=A8=E5=8A=9B=E3=80=82

=E8=BF=87=E5=8E=BB=E4=B8=89=E4=B8=AA=E6=9C=88=E7=9A=84=E7=BB=8F=E6=B5=8E=E5=
=A2=9E=E9=95=BF=E4=BD=8E=E4=BA=8E=E4=B8=80=E5=AD=A3=E5=BA=A62.1%=E7=9A=84=
=E5=B9=B4=E5=8C=96=E5=A2=9E=E9=95=BF=E7=8E=87=EF=BC=8C6=E6=9C=88=E4=B8=AA=
=E4=BA=BA=E6=94=B6=E5=85=A5=E5=92=8C=E6=B6=88=E8=B4=B9=E8=80=85=E6=94=AF=E5=
=87=BA=E7=9A=84=E5=A2=9E=E9=80=9F=E4=B9=9F=E5=8F=8C=E5=8F=8C=E6=94=BE=E7=BC=
=93=E3=80=82=E4=B8=8D=E8=BF=87=EF=BC=8CGDP=E6=8A=A5=E5=91=8A=E6=98=BE=E7=A4=
=BA=EF=BC=8C=E6=95=B4=E4=BD=93=E6=B6=88=E8=B4=B9=E4=BB=8D=E7=9B=B8=E5=AF=B9=
=E5=81=A5=E5=BA=B7=EF=BC=8C=E4=BC=81=E4=B8=9A=E6=8A=95=E8=B5=84=E2=80=94=E2=
=80=94=E5=B0=A4=E5=85=B6=E6=98=AF=E4=B8=8E=E4=BA=BA=E5=B7=A5=E6=99=BA=E8=83=
=BD=E7=83=AD=E6=BD=AE=E7=9B=B8=E5=85=B3=E7=9A=84=E6=8A=95=E8=B5=84=E2=80=94=
=E2=80=94=E7=BB=A7=E7=BB=AD=E5=BC=BA=E5=8A=B2=E6=8E=A8=E8=BF=9B=E3=80=82=E8=
=A1=A1=E9=87=8F=E6=B6=88=E8=B4=B9=E6=94=AF=E5=87=BA=E4=B8=8E=E7=A7=81=E4=BA=
=BA=E6=8A=95=E8=B5=84=E6=80=BB=E9=A2=9D=E7=9A=84=E2=80=9C=E6=A0=B8=E5=BF=83=
=E2=80=9D=E5=A2=9E=E9=95=BF=E6=8C=87=E6=A0=87=EF=BC=8C=E5=9C=A8=E4=BA=8C=E5=
=AD=A3=E5=BA=A6=E5=A2=9E=E9=95=BF=E4=BA=863.9%=20=C2=B2=EF=BC=8C=E8=80=8C=
=E4=B8=80=E5=AD=A3=E5=BA=A6=E4=B8=BA1.7%=E3=80=82

=E2=80=9C=E7=BB=8F=E6=B5=8E=E7=9A=84=E5=9F=BA=E6=9C=AC=E5=A2=9E=E9=95=BF=E5=
=8A=A8=E5=8A=9B=E4=BB=8D=E7=84=B6=E5=BE=88=E5=BC=BA=EF=BC=8C=E2=80=9D=E8=B5=
=84=E4=BA=A7=E7=AE=A1=E7=90=86=E5=92=8C=E5=92=A8=E8=AF=A2=E5=85=AC=E5=8F=B8=
Clocktower=20Group=E9=A6=96=E5=B8=AD=E5=AE=8F=E8=A7=82=E7=AD=96=E7=95=A5=E5=
=B8=88=E3=80=81=E6=9B=BE=E4=BB=BB=E7=BE=8E=E8=81=94=E5=82=A8=E9=A1=BE=E9=97=
=AE=E7=9A=84=E5=9F=83=E9=87=8C=E5=85=8B=C2=B7=E6=B2=83=E5=8B=92=E6=96=AF=E5=
=9D=A6=E8=A1=A8=E7=A4=BA=E3=80=82=E4=B8=8D=E8=BF=87=E4=BB=96=E4=B9=9F=E8=A1=
=A5=E5=85=85=E8=AF=B4=EF=BC=9A=E2=80=9C=E5=AE=9E=E9=99=85=E6=94=B6=E5=85=A5=
=E5=92=8C=E6=B6=88=E8=B4=B9=E6=94=AF=E5=87=BA=E4=B8=80=E7=9B=B4=E5=91=88=E4=
=B8=8B=E8=A1=8C=E8=B6=8B=E5=8A=BF=E3=80=82=E2=80=9D

=E7=94=B1=E4=BA=8EGDP=E6=95=B0=E6=8D=AE=E5=B7=B2=E7=BB=8F=E6=A0=B9=E6=8D=AE=
=E9=80=9A=E8=83=80=E8=BF=9B=E8=A1=8C=E4=BA=86=E8=B0=83=E6=95=B4=EF=BC=8C=E6=
=88=90=E6=9C=AC=E4=B8=8A=E6=B6=A8=E5=8E=8B=E4=BD=8E=E4=BA=86=E5=91=A8=E5=9B=
=9B=E6=95=B0=E6=8D=AE=E6=89=80=E4=BD=93=E7=8E=B0=E7=9A=84=E7=BB=8F=E6=B5=8E=
=E5=A2=9E=E9=95=BF=E3=80=82=E8=BF=99=E6=98=AF=E7=BE=8E=E5=9B=BD=E7=BB=8F=E6=
=B5=8E=E5=88=86=E6=9E=90=E5=B1=80=E5=AF=B9=E4=BA=8C=E5=AD=A3=E5=BA=A6=E7=9A=
=84=E5=88=9D=E6=AD=A5=E4=BC=B0=E7=AE=97=E3=80=82=E8=AF=A5=E6=9C=BA=E6=9E=84=
=E5=90=8E=E7=BB=AD=E8=BF=9B=E8=A1=8C=E7=9A=84=E4=BF=AE=E8=AE=A2=E5=8F=AF=E8=
=83=BD=E4=BC=9A=E6=9C=89=E8=BE=83=E5=A4=A7=E5=8F=98=E5=8A=A8=EF=BC=8C=E5=B0=
=A4=E5=85=B6=E6=98=AF=E5=9C=A8=E4=BB=B7=E6=A0=BC=E6=B3=A2=E5=8A=A8=E5=89=A7=
=E7=83=88=E7=9A=84=E6=97=B6=E6=9C=9F=E3=80=82

=E9=87=91=E8=9E=8D=E7=A0=94=E7=A9=B6=E5=91=98=E7=BB=B4=E9=9B=B7=E4=BB=80=C2=
=B7=E5=8D=A1=E7=BA=B3=E5=B7=B4=E5=B0=94=E6=94=B6=E9=9B=86=E7=9A=84=E6=95=B0=
=E6=8D=AE=E8=A1=A8=E6=98=8E=EF=BC=8C=E4=BC=81=E4=B8=9A=E8=AE=A2=E5=8D=95=E5=
=92=8C=E6=94=AF=E5=87=BA=E6=AD=A3=E5=9C=A8=E5=A2=9E=E5=8A=A0=E3=80=82=E8=BF=
=87=E5=8E=BB=E5=87=A0=E4=B8=AA=E6=9C=88=EF=BC=8C=E9=9B=B6=E5=94=AE=E9=94=80=
=E5=94=AE=E4=B9=9F=E4=B8=80=E7=9B=B4=E8=A1=A8=E7=8E=B0=E5=BC=BA=E5=8A=B2=E3=
=80=82=E4=BD=86=E4=BB=96=E7=9A=84=E6=95=B0=E6=8D=AE=E6=98=BE=E7=A4=BA=EF=BC=
=8C=E5=9C=A8=E6=89=A3=E9=99=A4=E9=80=9A=E8=83=80=E5=9B=A0=E7=B4=A0=E5=90=8E=
=EF=BC=8C=E6=B6=88=E8=B4=B9=E8=80=85=E8=B4=AD=E4=B9=B0=E5=A2=9E=E9=95=BF=E9=
=80=9F=E5=BA=A6=E6=98=8E=E6=98=BE=E6=9B=B4=E5=8A=A0=E7=BC=93=E6=85=A2=E3=80=
=82=E4=BB=96=E6=8C=87=E5=87=BA=EF=BC=8C=E8=BF=87=E5=8E=BB=E5=85=AD=E4=B8=AA=
=E6=9C=88=E4=B8=AD=EF=BC=8C=E7=BB=8F=E9=80=9A=E8=83=80=E8=B0=83=E6=95=B4=E7=
=9A=84=E2=80=9C=E5=AE=9E=E9=99=85=E2=80=9D=E6=94=B6=E5=85=A5=E6=95=B4=E4=BD=
=93=E4=B9=9F=E5=91=88=E4=B8=8B=E9=99=8D=E8=B6=8B=E5=8A=BF=EF=BC=8C=E4=B8=94=
=E9=99=8D=E5=B9=85=E4=B8=BA2022=E5=B9=B4=E9=80=9A=E8=83=80=E5=B3=B0=E5=80=
=BC=E4=BB=A5=E6=9D=A5=E6=89=80=E6=9C=AA=E8=A7=81=E3=80=82

=E7=AE=80=E5=8D=95=E6=9D=A5=E8=AF=B4=EF=BC=8CGDP=E6=98=AF=E5=AF=B9=E7=BB=8F=
=E6=B5=8E=E4=B8=AD=E5=95=86=E5=93=81=E5=92=8C=E6=9C=8D=E5=8A=A1=E4=BA=A4=E6=
=8D=A2=E6=83=85=E5=86=B5=E7=9A=84=E4=B8=80=E7=A7=8D=E7=BB=9F=E8=AE=A1=E8=AE=
=B0=E5=BD=95=E3=80=82GDP=E5=A2=9E=E9=95=BF=E5=88=99=E6=98=AF=E5=9B=9B=E4=B8=
=AA=E5=9B=A0=E7=B4=A0=E5=85=B1=E5=90=8C=E4=BD=9C=E7=94=A8=E7=9A=84=E7=BB=93=
=E6=9E=9C=EF=BC=9A=E4=BC=81=E4=B8=9A=E6=8A=95=E8=B5=84=E3=80=81=E6=94=BF=E5=
=BA=9C=E6=94=AF=E5=87=BA=E3=80=81=E5=87=80=E5=87=BA=E5=8F=A3=E4=BB=A5=E5=8F=
=8A=E5=B1=85=E6=B0=91=E6=B6=88=E8=B4=B9=E3=80=82=E5=85=B6=E4=B8=AD=EF=BC=8C=
=E5=B1=85=E6=B0=91=E6=B6=88=E8=B4=B9=E9=80=9A=E5=B8=B8=E5=8D=A0=E7=BE=8E=E5=
=9B=BD=E7=BB=8F=E6=B5=8E=E7=9A=8470%=E5=B7=A6=E5=8F=B3=E3=80=82

=E6=B6=88=E8=B4=B9=E8=80=85=E6=94=AF=E5=87=BA=E5=92=8C=E4=BC=81=E4=B8=9A=E6=
=8A=95=E8=B5=84=E7=9B=AE=E5=89=8D=E4=BB=8D=E7=84=B6=E7=A8=B3=E5=9B=BA=EF=BC=
=8C=E4=BD=86=E6=94=BF=E5=BA=9C=E5=87=80=E6=94=AF=E5=87=BA=E7=9A=84=E5=87=8F=
=E5=B0=91=E4=BB=A5=E5=8F=8A=E8=BF=9B=E5=8F=A3=E5=A2=9E=E5=8A=A0=E6=8B=96=E7=
=B4=AF=E4=BA=86=E7=BB=8F=E6=B5=8E=E5=A2=9E=E9=95=BF=E5=8A=BF=E5=A4=B4=E3=80=
=82=E2=80=9C=E7=9B=AE=E5=89=8D=E6=9D=A5=E7=9C=8B=EF=BC=8C=E7=BB=8F=E6=B5=8E=
=E5=8F=AA=E6=98=AF=E5=8B=89=E5=BC=BA=E5=89=8D=E8=A1=8C=EF=BC=8C=E9=99=A4=E9=
=9D=9E=E5=8F=A6=E6=9C=89=E5=8F=98=E5=8C=96=EF=BC=8C=E2=80=9D=E5=BA=B7=E5=A5=
=88=E5=B0=94=E6=B3=95=E5=AD=A6=E9=99=A2=E5=AE=8F=E8=A7=82=E7=BB=8F=E6=B5=8E=
=E5=AD=A6=E9=AB=98=E7=BA=A7=E7=A0=94=E7=A9=B6=E5=91=98=E3=80=81=E9=87=91=E8=
=9E=8D=E5=85=AC=E5=8F=B8=E8=A5=BF=E6=9C=A8=E8=B5=84=E6=9C=AC=E6=89=A7=E8=A1=
=8C=E5=90=88=E4=BC=99=E4=BA=BA=E4=B8=B9=C2=B7=E9=98=BF=E5=B0=94=E7=8F=80=E7=
=89=B9=E8=AF=B4=E3=80=82

=E6=9C=AC=E6=9C=88=E6=97=A9=E4=BA=9B=E6=97=B6=E5=80=99=EF=BC=8C=E7=89=B9=E6=
=9C=97=E6=99=AE=E6=94=BF=E5=BA=9C=E5=AF=B9=E6=9D=A5=E8=87=AA80=E5=A4=9A=E4=
=B8=AA=E5=9B=BD=E5=AE=B6=E7=9A=84=E8=BF=9B=E5=8F=A3=E5=95=86=E5=93=81=E5=8A=
=A0=E5=BE=81=E4=BA=8610%=E8=87=B312%=E7=9A=84=E5=85=B3=E7=A8=8E=E3=80=82=E7=
=BB=8F=E6=B5=8E=E5=AD=A6=E5=AE=B6=E6=89=B9=E8=AF=84=E6=80=BB=E7=BB=9F=E7=9A=
=84=E5=85=A8=E7=90=83=E5=85=B3=E7=A8=8E=E6=94=BF=E7=AD=96=EF=BC=8C=E6=B3=95=
=E9=99=A2=E4=B9=9F=E5=B7=B2=E6=8E=A8=E7=BF=BB=E4=BA=86=E5=85=B6=E4=B8=AD=E5=
=A4=9A=E9=A1=B9=E6=8E=AA=E6=96=BD=E3=80=82

=E7=BB=8F=E6=B5=8E=E5=AD=A6=E5=AE=B6=E6=99=AE=E9=81=8D=E8=AE=A4=E4=B8=BA=E7=
=8E=B0=E8=A1=8C=E5=85=B3=E7=A8=8E=E4=B8=8D=E8=87=B3=E4=BA=8E=E5=BC=95=E5=8F=
=91=E7=BB=8F=E6=B5=8E=E8=A1=B0=E9=80=80=EF=BC=8C=E4=BD=86=E8=AE=B8=E5=A4=9A=
=E4=BA=BA=E7=9B=B8=E4=BF=A1=E5=AE=83=E5=B0=86=E6=8B=96=E6=85=A2=E5=A2=9E=E9=
=95=BF=E3=80=81=E6=8E=A8=E9=AB=98=E7=89=A9=E4=BB=B7=E3=80=82=E6=8D=AE=E8=80=
=B6=E9=B2=81=E5=A4=A7=E5=AD=A6=E7=A0=94=E7=A9=B6=E4=BA=BA=E5=91=98=E4=BC=B0=
=E7=AE=97=EF=BC=8C=E8=BF=99=E4=BA=9B=E5=85=B3=E7=A8=8E=E6=AF=8F=E5=B9=B4=E4=
=BD=BF=E6=99=AE=E9=80=9A=E7=BE=8E=E5=9B=BD=E5=AE=B6=E5=BA=AD=E5=A2=9E=E5=8A=
=A0=E7=BA=A61100=E7=BE=8E=E5=85=83=20=C2=B3=E7=9A=84=E8=B4=9F=E6=8B=85=E3=
=80=82

=E8=AE=B8=E5=A4=9A=E5=95=86=E7=95=8C=E9=A2=86=E8=A2=96=E8=A1=A8=E7=A4=BA=E7=
=9B=B8=E4=BF=A1=EF=BC=8C=E4=BC=8A=E6=9C=97=E5=86=B2=E7=AA=81=E5=B0=86=E4=BC=
=9A=E4=BF=9D=E6=8C=81=E5=9C=A8=E5=8F=AF=E6=8E=A7=E8=8C=83=E5=9B=B4=E5=86=85=
=EF=BC=8C=E5=AF=B9=E6=95=B4=E4=BD=93=E5=95=86=E4=B8=9A=E6=B4=BB=E5=8A=A8=E9=
=80=A0=E6=88=90=E7=9A=84=E6=8D=9F=E5=AE=B3=E6=9C=89=E9=99=90=E3=80=82=E7=84=
=B6=E8=80=8C=EF=BC=8C=E5=85=A8=E7=90=83=E9=87=8D=E8=A6=81=E8=83=BD=E6=BA=90=
=E9=80=9A=E9=81=93=E9=9C=8D=E5=B0=94=E6=9C=A8=E5=85=B9=E6=B5=B7=E5=B3=A1=E9=
=83=A8=E5=88=86=E5=A4=84=E4=BA=8E=E4=BC=8A=E6=9C=97=E6=8E=8C=E6=8E=A7=E4=B9=
=8B=E4=B8=8B=EF=BC=8C=E8=87=B3=E4=BB=8A=E4=BB=8D=E6=9C=AA=E6=88=90=E4=B8=BA=
=E5=85=A8=E7=90=83=E8=88=AA=E8=BF=90=E5=95=86=E5=8F=AF=E4=BB=A5=E4=BE=9D=E8=
=B5=96=E7=9A=84=E7=A8=B3=E5=AE=9A=E9=80=9A=E9=81=93=E3=80=82=E5=B8=82=E5=9C=
=BA=E5=88=86=E6=9E=90=E5=B8=88=E5=B7=B2=E5=8F=91=E5=87=BA=E4=B8=A5=E5=8E=89=
=E8=AD=A6=E5=91=8A=EF=BC=8C=E5=85=A8=E7=90=83=E7=9F=B3=E6=B2=B9=E5=BA=93=E5=
=AD=98=E6=AD=A3=E5=9C=A8=E8=BF=85=E9=80=9F=E6=B6=88=E8=80=97=EF=BC=8C=E5=A4=
=A7=E8=A7=84=E6=A8=A1=E7=9F=AD=E7=BC=BA=E7=9A=84=E9=A3=8E=E9=99=A9=E5=8F=AF=
=E8=83=BD=E5=BE=88=E5=BF=AB=E5=8D=B7=E5=9C=9F=E9=87=8D=E6=9D=A5=E3=80=82

=E4=B8=80=E4=B8=AA=E9=83=A8=E5=88=86=E7=BC=93=E8=A7=A3=E5=9B=A0=E7=B4=A0=E6=
=98=AF=EF=BC=8C=E5=9B=BD=E5=86=85=E5=92=8C=E5=85=A8=E7=90=83=E7=BB=8F=E6=B5=
=8E=E7=9A=84=E2=80=9C=E8=83=BD=E6=BA=90=E5=AF=86=E9=9B=86=E5=BA=A6=E2=80=9D=
=E5=B7=B2=E5=A4=A7=E5=B9=85=E9=99=8D=E4=BD=8E=20=E2=81=B4=E3=80=82=E8=87=AA=
2000=E5=B9=B4=E4=BB=A5=E6=9D=A5=20=E2=81=B5=EF=BC=8C=E7=BE=8E=E5=9B=BD=E5=
=92=8C=E6=AC=A7=E6=B4=B2=E6=AF=8F=E4=BA=A7=E7=94=9F=E4=B8=80=E7=BE=8E=E5=85=
=83=E5=A2=9E=E9=95=BF=E6=89=80=E6=B6=88=E8=80=97=E7=9A=84=E8=83=BD=E6=BA=90=
=E5=87=8F=E5=B0=91=E4=BA=86=E7=BA=A6=E4=B8=89=E5=88=86=E4=B9=8B=E4=B8=80=EF=
=BC=8C=E4=B8=AD=E5=9B=BD=E9=99=8D=E5=B9=85=E7=BA=A6=E4=B8=BA40%=E3=80=82=E4=
=BD=86=E5=8E=9F=E6=B2=B9=E5=BA=93=E5=AD=98=E7=9A=84=E4=B8=8B=E9=99=8D=E4=BB=
=8D=E5=8F=AF=E8=83=BD=E5=BC=95=E5=8F=91=E6=B2=B9=E4=BB=B7=E9=80=9A=E8=83=80=
=E5=BC=8F=E9=A3=99=E5=8D=87=EF=BC=8C=E7=BB=A7=E8=80=8C=E9=98=BB=E7=A2=8D=E7=
=BB=8F=E6=B5=8E=E5=A2=9E=E9=95=BF=E3=80=82

=E6=9C=89=E8=AF=81=E6=8D=AE=E8=A1=A8=E6=98=8E=EF=BC=8C=E8=83=BD=E6=BA=90=E4=
=BB=B7=E6=A0=BC=E7=9A=84=E4=B8=8A=E6=B6=A8=E5=B7=B2=E4=BC=A0=E5=AF=BC=E8=87=
=B3=E7=BB=8F=E6=B5=8E=E7=9A=84=E5=85=B6=E4=BB=96=E9=A2=86=E5=9F=9F=E3=80=82=
=E9=A3=9F=E5=93=81=E6=9D=82=E8=B4=A7=E4=BB=B7=E6=A0=BC=E9=A2=84=E8=AE=A1=E5=
=B0=86=E4=B8=8A=E6=B6=A8=EF=BC=8C=E8=80=8C=E5=B7=B2=E7=BB=8F=E5=A4=A7=E5=B9=
=85=E4=B8=8A=E6=B6=A8=E7=9A=84=E6=9C=BA=E7=A5=A8=E4=BB=B7=E6=A0=BC=E7=9F=AD=
=E6=9C=9F=E5=86=85=E4=B9=9F=E4=B8=8D=E5=A4=AA=E5=8F=AF=E8=83=BD=E5=9B=9E=E8=
=90=BD=E3=80=82=E5=91=A8=E5=9B=9B=E5=85=AC=E5=B8=83=E7=9A=84=E5=8F=A6=E4=B8=
=80=E7=BB=84=E6=9C=88=E5=BA=A6=E6=95=B0=E6=8D=AE=E6=98=BE=E7=A4=BA=EF=BC=8C=
=E7=BE=8E=E8=81=94=E5=82=A8=E5=81=8F=E5=A5=BD=E7=9A=84=E9=80=9A=E8=83=80=E6=
=8C=87=E6=A0=87=E5=9C=A86=E6=9C=88=E5=AE=9E=E9=99=85=E4=B8=8A=E4=B8=8B=E9=
=99=8D=E4=BA=860.1%=E3=80=82=E8=BF=99=E5=8F=8D=E6=98=A0=E5=87=BA6=E6=9C=88=
=E6=B2=B9=E4=BB=B7=E9=99=8D=E6=B8=A9=E7=9A=84=E5=BD=B1=E5=93=8D=E3=80=82=E4=
=BD=86=E6=8C=89=E5=B9=B4=E7=8E=87=E8=AE=A1=E7=AE=97=EF=BC=8C=E9=80=9A=E8=83=
=80=E7=8E=87=E4=BB=8D=E9=AB=98=E8=BE=BE3.7%=EF=BC=8C=E8=BF=9C=E9=AB=98=E4=
=BA=8E=E7=BE=8E=E8=81=94=E5=82=A82%=E7=9A=84=E9=95=BF=E6=9C=9F=E7=9B=AE=E6=
=A0=87=E3=80=82=E4=BA=8C=E5=AD=A3=E5=BA=A6=E7=9A=84=E9=80=9A=E8=83=80=E5=B0=
=A4=E5=85=B6=E4=B8=A5=E9=87=8D=E3=80=82

=E7=BE=8E=E8=81=94=E5=82=A8=E5=91=A8=E4=B8=89=E7=BB=B4=E6=8C=81=E5=88=A9=E7=
=8E=87=E4=B8=8D=E5=8F=98=20=E2=81=B6=E3=80=82=E4=BD=86=E7=BE=8E=E8=81=94=E5=
=82=A8=E8=B4=9F=E8=B4=A3=E6=94=BF=E7=AD=96=E5=88=B6=E5=AE=9A=E7=9A=84=E5=85=
=AC=E5=BC=80=E5=B8=82=E5=9C=BA=E5=A7=94=E5=91=98=E4=BC=9A12=E5=90=8D=E6=88=
=90=E5=91=98=E4=B8=AD=E6=9C=89=E4=B8=89=E4=BA=BA=E6=8C=81=E5=BC=82=E8=AE=AE=
=EF=BC=8C=E6=8A=95=E7=A5=A8=E6=94=AF=E6=8C=81=E5=8A=A0=E6=81=AF=EF=BC=8C=E8=
=BF=99=E4=B8=80=E4=BF=A1=E5=8F=B7=E8=A1=A8=E6=98=8E=EF=BC=8C=E9=81=8F=E5=88=
=B6=E9=80=9A=E8=83=80=E7=9A=84=E5=8E=8B=E5=8A=9B=E6=AD=A3=E5=9C=A8=E7=B4=AF=
=E7=A7=AF=E3=80=82=E6=96=B0=E4=BB=BB=E7=BE=8E=E8=81=94=E5=82=A8=E4=B8=BB=E5=
=B8=AD=E5=87=AF=E6=96=87=C2=B7=E6=B2=83=E4=BB=80=E5=B7=B2=E4=BD=9C=E5=87=BA=
=E5=BC=BA=E7=A1=AC=E6=89=BF=E8=AF=BA=EF=BC=8C=E8=AA=93=E8=A8=80=E9=81=8F=E5=
=88=B6=E9=80=9A=E8=83=80=E3=80=82=E4=BD=86=E4=BB=96=E4=B8=8E=E5=89=8D=E4=BB=
=BB=E4=B8=80=E6=A0=B7=EF=BC=8C=E4=B9=9F=E9=9C=80=E8=A6=81=E6=9D=83=E8=A1=A1=
=E7=B4=A7=E7=BC=A9=E8=B4=A7=E5=B8=81=E6=94=BF=E7=AD=96=E5=8F=AF=E8=83=BD=E5=
=AF=B9=E7=BB=8F=E6=B5=8E=E5=A2=9E=E9=95=BF=E5=92=8C=E5=B0=B1=E4=B8=9A=E5=B8=
=82=E5=9C=BA=E9=80=A0=E6=88=90=E7=9A=84=E6=8D=9F=E5=AE=B3=E3=80=82

=E4=B8=8E2025=E5=B9=B4=E7=9B=B8=E6=AF=94=EF=BC=8C=E5=8A=B3=E5=8A=A8=E5=8A=
=9B=E5=B8=82=E5=9C=BA=E4=BB=8A=E5=B9=B4=E5=B7=B2=E8=B6=8B=E4=BA=8E=E7=A8=B3=
=E5=AE=9A=20=E2=81=B7=EF=BC=8C=E8=BF=87=E5=8E=BB=E4=B8=89=E4=B8=AA=E6=9C=88=
=E7=9A=84=E6=96=B0=E5=A2=9E=E5=B0=B1=E4=B8=9A=E4=BA=BA=E6=95=B0=E8=99=BD=E7=
=84=B6=E6=9C=89=E6=89=80=E6=B3=A2=E5=8A=A8=EF=BC=8C=E4=BD=86=E5=B9=B3=E5=9D=
=87=E6=AF=8F=E6=9C=88=E5=A2=9E=E5=8A=A011.1=E4=B8=87=E4=B8=AA=E5=B0=B1=E4=
=B8=9A=E5=B2=97=E4=BD=8D=E3=80=82=E4=B8=80=E4=BA=9B=E7=BE=8E=E8=81=94=E5=82=
=A8=E8=A7=82=E5=AF=9F=E4=BA=BA=E5=A3=AB=E8=AE=A4=E4=B8=BA=EF=BC=8C=E8=BF=99=
=E7=A7=8D=E7=A8=B3=E5=AE=9A=E4=B8=BA=E6=B2=83=E4=BB=80=E7=AD=89=E7=BE=8E=E8=
=81=94=E5=82=A8=E9=A2=86=E5=AF=BC=E5=B1=82=E6=8F=90=E4=BE=9B=E4=BA=86=E4=B8=
=80=E5=AE=9A=E5=8A=A0=E6=81=AF=E7=A9=BA=E9=97=B4=EF=BC=8C=E6=97=A0=E9=9C=80=
=E6=8B=85=E5=BF=83=E9=80=A0=E6=88=90=E8=BF=87=E5=A4=A7=E4=BC=A4=E5=AE=B3=E3=
=80=82

=E7=94=B1=E4=BA=8E=E6=8A=95=E8=B5=84=E8=80=85=E6=8B=85=E5=BF=83=E6=8C=81=E7=
=BB=AD=E9=AB=98=E4=BC=81=E7=9A=84=E9=80=9A=E8=83=80=E4=BC=9A=E4=BE=B5=E8=9A=
=80=E9=83=A8=E5=88=86=E8=B5=84=E4=BA=A7=E7=9A=84=E6=9C=AA=E6=9D=A5=E4=BB=B7=
=E5=80=BC=EF=BC=8C=E9=95=BF=E6=9C=9F=E5=80=BA=E5=88=B8=E6=94=B6=E7=9B=8A=E7=
=8E=87=E8=BF=91=E6=9C=9F=E6=9C=89=E6=89=80=E4=B8=8A=E5=8D=87=E3=80=82=E6=8A=
=95=E8=B5=84=E8=80=85=E4=B8=80=E7=9B=B4=E6=8B=85=E5=BF=A7=E4=BA=BA=E5=B7=A5=
=E6=99=BA=E8=83=BD=E5=8F=AF=E8=83=BD=E5=BD=A2=E6=88=90=E6=B3=A1=E6=B2=AB=20=
=E2=81=B8=E3=80=82=E4=BD=86=E8=82=A1=E7=A5=A8=E6=8C=87=E6=95=B0=E4=BB=8A=E5=
=B9=B4=E4=BB=A5=E6=9D=A5=E4=BB=8D=E5=BD=95=E5=BE=97=E4=B8=8A=E6=B6=A8=EF=BC=
=8C=E4=BC=81=E4=B8=9A=E7=9B=88=E5=88=A9=E6=8C=81=E7=BB=AD=E8=B6=85=E5=87=BA=
=E9=A2=84=E6=9C=9F=E3=80=82

=E6=A0=B9=E6=8D=AEFactSet=20=E2=81=B9=E7=9A=84=E6=95=B0=E6=8D=AE=EF=BC=8C=
=E6=A0=87=E6=99=AE500=E6=8C=87=E6=95=B0=E4=BC=81=E4=B8=9A=E7=9A=84=E5=87=80=
=E5=88=A9=E6=B6=A6=E7=8E=87=20=C2=B9=E2=81=B0=E9=A2=84=E8=AE=A1=E5=B0=86=E5=
=9C=A8=E6=9C=80=E6=96=B0=E5=AD=A3=E5=BA=A6=E5=8D=87=E8=87=B316%=EF=BC=8C=E8=
=BF=99=E6=98=AFFactSet=E8=87=AA2009=E5=B9=B4=E5=BC=80=E5=A7=8B=E8=BF=BD=E8=
=B8=AA=E8=AF=A5=E6=8C=87=E6=A0=87=E4=BB=A5=E6=9D=A5=E7=9A=84=E6=9C=80=E9=AB=
=98=E6=B0=B4=E5=B9=B3=E3=80=82=E7=BB=8F=E6=B5=8E=E5=AD=A6=E5=AE=B6=E4=BB=AC=
=E6=97=A2=E6=83=8A=E5=8F=B9=E5=8F=88=E6=8B=85=E5=BF=A7=EF=BC=8C=E6=83=B3=E7=
=9F=A5=E9=81=93=E4=BA=BA=E5=B7=A5=E6=99=BA=E8=83=BD=E7=83=AD=E6=BD=AE=E4=B8=
=8EGDP=E5=A2=9E=E9=95=BF=E4=B9=8B=E9=97=B4=20=C2=B9=C2=B9=E7=A9=B6=E7=AB=9F=
=E5=8F=AF=E8=83=BD=E4=BA=A7=E7=94=9F=E5=A4=9A=E5=A4=A7=E7=A8=8B=E5=BA=A6=E7=
=9A=84=E5=85=B3=E8=81=94=E3=80=82

=E5=9C=A8=E5=A4=A7=E5=9E=8B=E4=BC=81=E4=B8=9A=E7=BA=B7=E7=BA=B7=E4=B8=BE=E5=
=80=BA=E5=B9=B6=E5=8A=A8=E7=94=A8=E6=95=B0=E5=8D=81=E4=BA=BF=E7=BE=8E=E5=85=
=83=E7=8E=B0=E9=87=91=E6=B5=81=E5=85=91=E7=8E=B0=E6=8A=95=E8=B5=84=E6=89=BF=
=E8=AF=BA=E4=B9=8B=E9=99=85=EF=BC=8C=E8=BF=99=E5=9C=BAAI=E7=83=AD=E6=BD=AE=
=E4=B8=8B=E7=9A=84=E5=BA=9E=E5=A4=A7=E6=8A=95=E5=85=A5=E7=A9=B6=E7=AB=9F=E5=
=B0=86=E4=BB=8E=E4=BD=95=E5=A4=84=E8=8E=B7=E5=BE=97=E5=9B=9E=E6=8A=A5=20=C2=
=B9=C2=B2=E4=BE=9D=E7=84=B6=E6=98=AF=E4=B8=80=E4=B8=AA=E6=A0=B8=E5=BF=83=E9=
=97=AE=E9=A2=98=E3=80=82=E5=9C=A8=E4=B8=AA=E4=BA=BA=E8=AE=BE=E5=A4=87=E4=B8=
=8A=E8=BF=9B=E8=A1=8C=E6=90=9C=E7=B4=A2=E6=9F=A5=E8=AF=A2=E3=80=81=E4=BD=BF=
=E7=94=A8=E5=95=86=E4=B8=9A=E8=BD=AF=E4=BB=B6=E5=BA=94=E7=94=A8=E5=92=8C=E6=
=B5=8F=E8=A7=88=E5=86=85=E5=AE=B9=E6=B5=81=E4=BC=BC=E4=B9=8E=E6=AF=AB=E4=B8=
=8D=E8=B4=B9=E5=8A=9B=E3=80=82=E4=BD=86=E4=BA=91=E8=AE=A1=E7=AE=97=E5=92=8C=
=E4=BA=BA=E5=B7=A5=E6=99=BA=E8=83=BD=E7=B3=BB=E7=BB=9F=E4=BE=9D=E8=B5=96=E4=
=BA=8E=E5=BA=9E=E5=A4=A7=E4=B8=94=E9=AB=98=E5=BA=A6=E8=80=97=E8=83=BD=E7=9A=
=84=E5=9F=BA=E7=A1=80=E8=AE=BE=E6=96=BD=EF=BC=8C=E5=8C=85=E6=8B=AC=E8=8A=AF=
=E7=89=87=E3=80=81=E7=94=B5=E7=BC=86=E4=BB=A5=E5=8F=8A=E5=86=B7=E5=8D=B4=E7=
=B3=BB=E7=BB=9F=E3=80=82=E8=BF=99=E4=BA=9B=E5=BA=95=E5=B1=82=E5=AE=9E=E4=BD=
=93=E7=B3=BB=E7=BB=9F=E7=9A=84=E5=8F=91=E5=B1=95=E6=AD=A3=E6=98=AF=E4=BC=81=
=E4=B8=9A=E6=8A=95=E8=B5=84=E7=83=AD=E6=BD=AE=E7=9A=84=E6=A0=B8=E5=BF=83=E3=
=80=82=E9=AB=98=E7=9B=9B=E4=BC=B0=E8=AE=A1=EF=BC=8C=E5=88=B0=E4=BB=8A=E5=B9=
=B4=E5=B9=B4=E5=BA=95=EF=BC=8C=E4=BA=BA=E5=B7=A5=E6=99=BA=E8=83=BD=E9=A2=86=
=E5=9F=9F=E7=9A=84=E8=B5=84=E6=9C=AC=E6=94=AF=E5=87=BA=E5=B0=86=E8=BE=BE=E5=
=88=B07650=E4=BA=BF=E7=BE=8E=E5=85=83=E3=80=82

PNC=E9=93=B6=E8=A1=8C=E7=BB=8F=E6=B5=8E=E5=AD=A6=E5=AE=B6=E5=85=BC=E8=91=A3=
=E4=BA=8B=E6=80=BB=E7=BB=8F=E7=90=86=E5=B8=83=E8=8E=B1=E6=81=A9=C2=B7=E5=8B=
=92=E5=B8=83=E6=9C=97=E6=8C=87=E5=87=BA=EF=BC=8C=E4=BB=85=E4=BB=8A=E5=B9=B4=
=E4=B8=8A=E5=8D=8A=E5=B9=B4=EF=BC=8C=E4=BC=81=E4=B8=9A=E2=80=9C=E8=B5=84=E6=
=9C=AC=E6=94=AF=E5=87=BA=E2=80=9D=E5=B9=B3=E5=9D=87=E5=A2=9E=E9=95=BF=E7=8E=
=87=E5=B0=B1=E9=AB=98=E8=BE=BE10%=EF=BC=8C=E4=BB=A4=E4=BA=BA=E7=9E=A9=E7=9B=
=AE=E3=80=82=E7=84=B6=E8=80=8C=EF=BC=8C=E7=94=B1=E4=BA=8E=E4=B8=80=E4=BA=9B=
=E7=BB=9F=E8=AE=A1=E7=89=B9=E6=80=A7=EF=BC=8C=E4=BA=BA=E5=B7=A5=E6=99=BA=E8=
=83=BD=E5=9F=BA=E7=A1=80=E8=AE=BE=E6=96=BD=E5=BB=BA=E8=AE=BE=E2=80=94=E2=80=
=94=E5=A4=A7=E9=87=8F=E4=BE=9D=E8=B5=96=E8=BF=9B=E5=8F=A3=E7=9A=84=E5=A4=96=
=E5=9B=BD=E9=83=A8=E4=BB=B6=E8=80=8C=E9=9D=9E=E5=9B=BD=E5=86=85=E9=9B=B6=E9=
=83=A8=E4=BB=B6=E2=80=94=E2=80=94=E4=B9=9F=E5=9C=A8=E4=B8=80=E5=AE=9A=E7=A8=
=8B=E5=BA=A6=E4=B8=8A=E5=8E=8B=E4=BD=8E=E4=BA=86=E5=9B=BD=E5=86=85=E7=BB=8F=
=E6=B5=8E=E5=A2=9E=E9=95=BF=E6=8C=87=E6=A0=87=E3=80=82

=E2=80=9C=E4=BB=8EGDP=E6=A0=B8=E7=AE=97=E7=9A=84=E8=A7=92=E5=BA=A6=E6=9D=A5=
=E7=9C=8B=EF=BC=8C=E5=A4=A7=E9=87=8F=E4=B8=8E=E4=BA=BA=E5=B7=A5=E6=99=BA=E8=
=83=BD=E7=9B=B8=E5=85=B3=E7=9A=84=E8=B5=84=E6=9C=AC=E6=94=AF=E5=87=BA=E8=99=
=BD=E7=84=B6=E6=98=BE=E8=91=97=E5=A2=9E=E5=8A=A0=E4=BA=86GDP=EF=BC=8C=E4=BD=
=86=E7=94=B1=E4=BA=8E=E6=95=B0=E6=8D=AE=E4=B8=AD=E5=BF=83=E6=89=80=E7=94=A8=
=E8=AE=BE=E5=A4=87=E5=A4=A7=E9=83=A8=E5=88=86=E9=9D=A0=E8=BF=9B=E5=8F=A3=EF=
=BC=8C=E8=BF=99=E9=83=A8=E5=88=86=E5=A2=9E=E9=95=BF=E5=9C=A8=E5=BE=88=E5=A4=
=A7=E7=A8=8B=E5=BA=A6=E4=B8=8A=E5=8F=88=E8=A2=AB=E6=8A=B5=E6=B6=88=E4=BA=86=
=EF=BC=8C=E2=80=9D=E6=B4=BE=E6=9D=B0=E6=8A=95=E8=B5=84=E8=91=A3=E4=BA=8B=E6=
=80=BB=E7=BB=8F=E7=90=86=E5=85=BC=E7=BB=8F=E6=B5=8E=E7=A0=94=E7=A9=B6=E5=89=
=AF=E4=B8=BB=E7=AE=A1=E6=9D=B0=E5=85=8B=C2=B7=E4=B9=8C=E6=AF=94=E7=BA=B3=E8=
=A1=A8=E7=A4=BA=E3=80=82

=E6=98=A5=E5=AD=A3=E6=9B=BE=E6=8F=90=E6=8C=AF=E5=AE=B6=E5=BA=AD=E6=B6=88=E8=
=B4=B9=E7=9A=84=E8=81=94=E9=82=A6=E9=80=80=E7=A8=8E=E7=9B=AE=E5=89=8D=E5=A4=
=A7=E5=A4=9A=E5=B7=B2=E7=94=A8=E5=AE=8C=E3=80=82=E9=9A=8F=E7=9D=80=E5=AE=B6=
=E5=BA=AD=E5=82=A8=E8=93=84=E7=BC=93=E5=86=B2=E8=BF=9C=E4=BD=8E=E4=BA=8E=E8=
=BF=91=E6=9C=9F=E6=B0=B4=E5=B9=B3=EF=BC=8C=E2=80=9C=E4=BB=8A=E5=B9=B4=E5=89=
=A9=E4=BD=99=E6=97=B6=E9=97=B4=E6=B6=88=E8=B4=B9=E5=B0=86=E5=A4=A7=E5=B9=85=
=E8=B5=B0=E5=BC=B1=EF=BC=8C=E2=80=9DClocktower=20Group=E7=9A=84=E6=B2=83=E5=
=8B=92=E6=96=AF=E5=9D=A6=E5=88=86=E6=9E=90=E9=81=93=E3=80=82

=E2=80=9C=E6=98=AF=E7=9A=84=EF=BC=8C=E4=BA=BA=E5=B7=A5=E6=99=BA=E8=83=BD=E7=
=83=AD=E6=BD=AE=E5=B9=B6=E4=B8=8D=E7=AD=89=E4=BA=8EGDP=E7=9A=84=E5=85=A8=E9=
=83=A8=EF=BC=8C=E2=80=9D=E4=BB=96=E8=AF=B4=E3=80=82=E2=80=9C=E4=BD=86=E8=BF=
=99=E6=98=AF=E4=B8=80=E4=B8=AA=E7=94=B1=E4=BA=BA=E5=B7=A5=E6=99=BA=E8=83=BD=
=E9=A9=B1=E5=8A=A8=E7=9A=84=E7=BB=8F=E6=B5=8E=E3=80=82=E2=80=9D

Talmon=20Joseph=20Smiths=20=C2=B9=C2=B3=E6=98=AF=E6=97=B6=E6=8A=A5=E9=A9=BB=
=E7=BA=BD=E7=BA=A6=E7=9A=84=E7=BB=8F=E6=B5=8E=E6=8A=A5=E9=81=93=E8=AE=B0=E8=
=80=85=E3=80=82

=E7=BF=BB=E8=AF=91=EF=BC=9A=E6=9D=9C=E7=84=B6=20=C2=B9=E2=81=B4

=E2=81=B0=20=E4=BB=B7=E6=A0=BC=E4=B8=8A=E6=B6=A8:=20https://www.nytimes.com=
/2026/07/06/business/economy/gas-station-prices.html
=C2=B9=20=E7=BE=8E=E8=81=94=E5=82=A8=E9=81=8F=E5=88=B6=E9=80=9A=E8=83=80=E8=
=AE=A1=E5=88=92=E7=9A=84=E4=B8=8D=E7=A1=AE=E5=AE=9A=E6=80=A7:=20https://www=
.nytimes.com/2026/07/30/business/warshs-performance-falls-flat-with-markets=
-as-fed-holds-rates-steady.html
=C2=B2=20=E5=A2=9E=E9=95=BF=E4=BA=863.9%:=20https://apps.bea.gov/iTable/?re=
qid=3D19&step=3D2&isuri=3D1&categories=3Dsurvey&_gl=3D1*vvt0u8*_ga*MTQ3OTgw=
NDE4LjE2NzY5OTYyNTM.*_ga_J4698JNNFT*MTc0NjQ3NDIyMS4xMjc2LjEuMTc0NjQ3NDYxNC4=
0OS4wLjA.#eyJhcHBpZCI6MTksInN0ZXBzIjpbMSwyLDNdLCJkYXRhIjpbWyJjYXRlZ29yaWVzI=
iwiU3VydmV5Il0sWyJOSVBBX1RhYmxlX0xpc3QiLCIyNiJdXX0=3D
=C2=B3=20=E7=BA=A61100=E7=BE=8E=E5=85=83:=20https://budgetlab.yale.edu/rese=
arch/state-us-tariffs
=E2=81=B4=20=E2=80=9C=E8=83=BD=E6=BA=90=E5=AF=86=E9=9B=86=E5=BA=A6=E2=80=9D=
=E5=B7=B2=E5=A4=A7=E5=B9=85=E9=99=8D=E4=BD=8E:=20https://www.nytimes.com/20=
26/03/14/business/economy/america-oil-gas-energy.html
=E2=81=B5=20=E8=87=AA2000=E5=B9=B4=E4=BB=A5=E6=9D=A5:=20https://www.wsj.com=
/economy/global/five-things-the-hormuz-crisis-taught-us-about-the-global-ec=
onomy-c9bd6b45?utm_source=3Dsubstack&utm_medium=3Demail
=E2=81=B6=20=E7=BB=B4=E6=8C=81=E5=88=A9=E7=8E=87=E4=B8=8D=E5=8F=98:=20https=
://www.nytimes.com/live/2026/07/29/business/fed-meeting-rates-kevin-warsh
=E2=81=B7=20=E4=BB=8A=E5=B9=B4=E5=B7=B2=E8=B6=8B=E4=BA=8E=E7=A8=B3=E5=AE=9A=
:=20https://www.nytimes.com/2026/07/02/business/economy/jobs-report-employm=
ent.html
=E2=81=B8=20=E6=8B=85=E5=BF=A7=E4=BA=BA=E5=B7=A5=E6=99=BA=E8=83=BD=E5=8F=AF=
=E8=83=BD=E5=BD=A2=E6=88=90=E6=B3=A1=E6=B2=AB:=20https://www.nytimes.com/20=
26/07/22/business/economy/stocks-economy-ai.html
=E2=81=B9=20FactSet:=20https://substack.com/redirect/276544cc-38f8-4981-821=
f-a66761cee709?j=3DeyJ1IjoibmN4aSJ9.XN01navpbOcUnABHUOIjcgh_5g1FBL3TpL-74A3=
s0Gw
=C2=B9=E2=81=B0=20=E5=87=80=E5=88=A9=E6=B6=A6=E7=8E=87:=20https://substack.=
com/redirect/c64c04a2-f777-481b-9be4-d9312c013691?j=3DeyJ1IjoibmN4aSJ9.XN01=
navpbOcUnABHUOIjcgh_5g1FBL3TpL-74A3s0Gw
=C2=B9=C2=B9=20=E4=BA=BA=E5=B7=A5=E6=99=BA=E8=83=BD=E7=83=AD=E6=BD=AE=E4=B8=
=8EGDP=E5=A2=9E=E9=95=BF=E4=B9=8B=E9=97=B4:=20https://www.nytimes.com/2026/=
07/22/business/economy/stocks-economy-ai.html?searchResultPosition=3D1
=C2=B9=C2=B2=20=E5=BA=9E=E5=A4=A7=E6=8A=95=E5=85=A5=E7=A9=B6=E7=AB=9F=E5=B0=
=86=E4=BB=8E=E4=BD=95=E5=A4=84=E8=8E=B7=E5=BE=97=E5=9B=9E=E6=8A=A5:=20https=
://www.nytimes.com/2026/07/29/technology/meta-profit-ai.html
=C2=B9=C2=B3=20Talmon=20Joseph=20Smiths:=20https://www.nytimes.com/by/talmo=
n-joseph-smith
=C2=B9=E2=81=B4=20=E7=82=B9=E5=87=BB=E6=9F=A5=E7=9C=8B=E6=9C=AC=E6=96=87=E8=
=8B=B1=E6=96=87=E7=89=88=E3=80=82:=20https://www.nytimes.com/2026/07/30/bus=
iness/economy/us-economy-gdp-growth.html

https://cn.nytimes.com/business/20260731/us-economy-gdp-growth/?utm_source=
=3DRSS

Fri,=2031=20Jul=202026=2011:55:34=20+0800

--
Mobot

If=20you=20have=20any=20comments=20on=20this=20article,=20feel=20free=20to=
=20follow=20up.=20However,=20for=20feedback=20on=20the=20bot,=20please=20po=
st=20to=20the=20cn.fan=20newsgroup.
BTC=20donation:=20bc1qkatj3eghdt7n28hnyv5tmd9lsdvpz94lrf5f4w