Breaking news: In October 2024, the US Consumer Price Index (CPI) rose to 2.6%, higher than 2.4% in September, ending a seven-month slowdown in inflation. The Federal Reserve has previously cut interest rates twice in a row to respond to the downward trend in inflation. Although inflation has not reached the 2% target, the overall cooling momentum is still seen as a positive sign. As inflation picks up, the market is paying attention to the Fed's future response strategy and the economic policy changes that may be brought about by Trump's second term. Currently, the market expects that the Fed will not cut interest rates by more than 1 percentage point by the end of 2025. This change has increased market uncertainty, especially in the context of the Trump administration's policies.